⸺ Obituary · January 27, 2020 ⸺
“Deutsche Bank Says Bitcoin Is Too Volatile To Be A Reliable Store Of Value”
— The Block, Deutsche Bank
“Particularly for bitcoin, the world’s largest cryptocurrency, the bank said it is “too volatile” to be a “reliable” store of value. It referenced bitcoin’s sharp price fluctuations during 2017-2018.”
Price at death
$8,902
Today
$73,594
Resurrection
×8.3
On 2020-01-27, Deutsche Bank declared Bitcoin dead via The Block. Bitcoin was trading at ~$8,902 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on January 27, 2020, when one Bitcoin traded for approximately $8,902. Since then, Bitcoin has appreciated by 8.3× relative to the price on the day The Block pronounced it finished.