⸺ Obituary · August 16, 2020 ⸺
“Bitcoin Has No Value To Store”
Peter Schiff
Photo: Gage Skidmore (CC BY-SA 3.0), via Wikimedia Commons
“You can store #Bitcoin, but you can't store value as Bitcoin has no value to store. Sure Bitcoin has market value today as speculators still want to buy it. But there is no way to know if anyone of them will still want to buy it in the future.”
Price at death
$11,908
Today
$61,577
Resurrection
×5.2
On 2020-08-16, Peter Schiff (Stock Broker / Economist) declared Bitcoin dead via Twitter. Bitcoin was trading at ~$11,908 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on August 16, 2020, when one Bitcoin traded for approximately $11,908. Since then, Bitcoin has appreciated by 5.2× relative to the price on the day Crypto Twitter (X) pronounced it finished.