⸺ Obituary · February 26, 2018 ⸺
“World's Largest Asset Manager Says Get Ready To Stomach Complete Losses In Cryptocurrencies”
Richard Turnill
“Turnill noted cryptocurrencies’ high volatility, fragmented markets and lack of regulation. “We don’t see them becoming part of mainstream investment portfolios soon,” he said, adding that their volatility makes U.S. stock market turbulence during the financial crisis “almost look placid.””
Price at death
$10,313
Today
$61,577
Resurrection
×6.0
On 2018-02-26, Richard Turnill (Global Chief Investment Strategist, BlackRock) declared Bitcoin dead via CNBC. Bitcoin was trading at ~$10,313 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on February 26, 2018, when one Bitcoin traded for approximately $10,313. Since then, Bitcoin has appreciated by 6.0× relative to the price on the day CNBC pronounced it finished.
