⸺ Obituary · November 1, 2017 ⸺
“Greater Fool Theory: The Bitcoin Bubble”
Buttonwood
“People are buying Bitcoin because they expect other people to buy it from them at a higher price; the definition of the greater fool theory. …When the crash comes, and it cannot be too far away, it will be dramatic.”
Price at death
$6,750
Today
$62,500
Resurrection
×9.3
On 2017-11-01, Buttonwood (Economist) declared Bitcoin dead via Economist. Bitcoin was trading at ~$6,750 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on November 1, 2017, when one Bitcoin traded for approximately $6,750. Since then, Bitcoin has appreciated by 9.3× relative to the price on the day Economist pronounced it finished.
