⸺ Obituary · December 18, 2018 ⸺
“The Decline Is Fundamental, Unsolvable, And The End Of BTC”
— Seeking Alpha, Anthony Garcia
“Bitcoin is literally worth nothing. Bitcoin has no chance of success because it’s worthless. It has nothing backing it but an illusion; no gold or silver or even a decree that it’s legal tender. It has no intrinsic value and no one needs it. Bitcoin doesn’t actually have any intrinsic value of any sort backing it – only vague assertions of its potential usefulness in the future. Your currency is only worth what other people believe it’s worth and I’ll present a few reasons why Bitcoin will never be generally agreed upon as something of worth.”
Price at death
$3,704
Today
$73,490
Resurrection
×19.8
On 2018-12-18, Anthony Garcia (Financial Advisor) declared Bitcoin dead via Seeking Alpha. Bitcoin was trading at ~$3,704 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on December 18, 2018, when one Bitcoin traded for approximately $3,704. Since then, Bitcoin has appreciated by 19.8× relative to the price on the day Seeking Alpha pronounced it finished.