⸺ Obituary · June 25, 2022 ⸺
“Bitcoin Heading To Zero, Says China State Media Amid Global Crypto Downturn”
— Business Standard, China's Economic Daily
“Bitcoin is nothing more than a string of digital codes, and its returns mainly come from buying low and selling high... In the future, once investors' confidence collapses or when sovereign countries declare bitcoin illegal, it will return to its original value, which is utterly worthless.”
Price at death
$21,232
Today
$73,594
Resurrection
×3.5
On 2022-06-25, China's Economic Daily declared Bitcoin dead via Business Standard. Bitcoin was trading at ~$21,232 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on June 25, 2022, when one Bitcoin traded for approximately $21,232. Since then, Bitcoin has appreciated by 3.5× relative to the price on the day Business Standard pronounced it finished.