⸺ Obituary · May 17, 2023 ⸺
“Crypto Has ‘No Intrinsic Value’ And ‘No Useful Social Purpose,’ Say Lawmakers”
Harriett Baldwin
“However, with no intrinsic value, huge price volatility and no discernible social good, consumer trading of cryptocurrencies like Bitcoin more closely resembles gambling than a financial service, and should be regulated as such. By betting on these unbacked ‘tokens’, consumers should be aware that all their money could be lost.”
Price at death
$27,399
Today
$61,577
Resurrection
×2.2
On 2023-05-17, Harriett Baldwin (Member of Parliament, West Worcestershire) declared Bitcoin dead via TNW. Bitcoin was trading at ~$27,399 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on May 17, 2023, when one Bitcoin traded for approximately $27,399. Since then, Bitcoin has appreciated by 2.2× relative to the price on the day TNW pronounced it finished.