⸺ Obituary · September 20, 2021 ⸺
“Fundamental Value Of Zero”
Steve Hanke
Photo: Macroguy7979 (CC BY-SA 4.0), via Wikimedia Commons
“#Bitcoin’s volatility is its Achilles' heel and the reason it will never serve as a reliable unit of account or currency. Bitcoin is nothing more than a highly speculative asset with a fundamental value of ZERO.”
Price at death
$43,015
Today
$61,577
Resurrection
×1.4
On 2021-09-20, Steve Hanke (Economist and Professor, Johns Hopkins University) declared Bitcoin dead via Twitter. Bitcoin was trading at ~$43,015 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on September 20, 2021, when one Bitcoin traded for approximately $43,015. Since then, Bitcoin has appreciated by 43% relative to the price on the day Crypto Twitter (X) pronounced it finished.
