⸺ Obituary · June 15, 2021 ⸺
“The Brutal Truth About Bitcoin”
— The New York Times, Eswar Prasad
“Bitcoin investors seem to be relying on the greater fool theory — all you need to profit from an investment is to find someone willing to buy the asset at an even higher price.”
Price at death
$40,161
Today
$73,545
Resurrection
×1.8
On 2021-06-15, Eswar Prasad (Professor, Cornell University) declared Bitcoin dead via The New York Times. Bitcoin was trading at ~$40,161 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on June 15, 2021, when one Bitcoin traded for approximately $40,161. Since then, Bitcoin has appreciated by 83% relative to the price on the day The New York Times pronounced it finished.