⸺ Obituary · June 8, 2015 ⸺
“Bitcoin Isn’t The Future Of Money — It’s Either A Ponzi Scheme Or A Pyramid Scheme”
— The Washington Post, Matt O'Brien
“It’s not clear what Bitcoin is or what it will be, but it is clear what it’s not. It’s not a currency. People don’t set prices in Bitcoin and, for the most part, don’t buy things with it either…. In the meantime, though, Bitcoin is still a little bit of a Ponzi—or is it a pyramid?—scheme that its libertarian early adopters are trying to cash in on.”
Price at death
$229
Today
$73,532
Resurrection
×322
On 2015-06-08, Matt O'Brien (Economics Reporter, The Washington Post) declared Bitcoin dead via The Washington Post. Bitcoin was trading at ~$229 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on June 8, 2015, when one Bitcoin traded for approximately $229. Since then, Bitcoin has appreciated by 322× relative to the price on the day The Washington Post pronounced it finished.