⸺ Obituary · December 11, 2017 ⸺
“Bitcoin Is A Ponzi Scheme, And It Will Collapse Like One”
— The Hill, Bert Ely
“Bitcoin and the like will quickly fade into financial history, just as tulipmania did, serving solely to remind future generations of the folly of gambling on illusions of value.”
Price at death
$16,700
Today
$73,565
Resurrection
×4.4
On 2017-12-11, Bert Ely (Professor, University of South Carolina) declared Bitcoin dead via The Hill. Bitcoin was trading at ~$16,700 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on December 11, 2017, when one Bitcoin traded for approximately $16,700. Since then, Bitcoin has appreciated by 4.4× relative to the price on the day The Hill pronounced it finished.