⸺ Obituary · March 6, 2016 ⸺
“Dumb Investment Of The Week: Bitcoin Investment Trust”
— Seeking Alpha, Ben Strubel
“Bitcoins are a digital Ponzi scheme, not a digital cryptocurrency. Investors would be wise to steer clear of bitcoins and any other digital currencies.”
Price at death
$405
Today
$73,594
Resurrection
×182
On 2016-03-06, Ben Strubel (Wealth Manager) declared Bitcoin dead via Seeking Alpha. Bitcoin was trading at ~$405 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on March 6, 2016, when one Bitcoin traded for approximately $405. Since then, Bitcoin has appreciated by 182× relative to the price on the day Seeking Alpha pronounced it finished.