⸺ Obituary · May 17, 2023 ⸺
“Crypto Has ‘No Intrinsic Value’ And ‘No Useful Social Purpose,’ Say Lawmakers”
— TNW, 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
$73,495
Resurrection
×2.7
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 2.7× relative to the price on the day TNW pronounced it finished.