⸺ Obituary · December 31, 2019 ⸺
“It's A Pyramid Scheme”
Tendayi Kapfidze
“I know exactly what’s there, it’s a ‘Pyramid’ scheme. You only make money based on people who enter after you… It has no real utility in the world. They’ve been trying to create a utility for it for 10 years now, so it’s a solution in search of a problem and it still hasn’t found a problem to solve.”
Price at death
$7,182
Today
$61,577
Resurrection
×8.6
On 2019-12-31, Tendayi Kapfidze (Economist) declared Bitcoin dead via Yahoo Finance. Bitcoin was trading at ~$7,182 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on December 31, 2019, when one Bitcoin traded for approximately $7,182. Since then, Bitcoin has appreciated by 8.6× relative to the price on the day Yahoo Finance pronounced it finished.
