⸺ Obituary · December 29, 2017 ⸺
“Why Bitcoin Investors Are Like Stamp Collectors”
— The Sidney Morning Herald, Michael Pascoe
“The belief or hope that there will always be a greater fool wanting to buy is supposed to be underwritten by bitcoin’s “limited edition” status – a limited number can be produced. Which makes bitcoin buyers more like stamp collectors – or perhaps rare coin collectors.”
Price at death
$14,428
Today
$73,594
Resurrection
×5.1
On 2017-12-29, Michael Pascoe (Financial Journalist) declared Bitcoin dead via The Sidney Morning Herald. Bitcoin was trading at ~$14,428 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on December 29, 2017, when one Bitcoin traded for approximately $14,428. Since then, Bitcoin has appreciated by 5.1× relative to the price on the day The Sidney Morning Herald pronounced it finished.