⸺ Obituary · June 20, 2011 ⸺
“So, That's The End Of Bitcoin Then”
— Forbes, Tim Worstall
“Bitcoins aren’t secure, as both the recent theft and this password problem show. They’re not liquid, nor a store of value, as the price collapse shows and if they’re none of those things then they’ll not be a great medium of exchange either as who would want to accept them? . . . It’s difficult to see what the currency has going for it.”
Price at death
$18
Today
$73,594
Resurrection
×4203
On 2011-06-20, Tim Worstall (Economics Writer) declared Bitcoin dead via Forbes. Bitcoin was trading at ~$18 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on June 20, 2011, when one Bitcoin traded for approximately $18. Since then, Bitcoin has appreciated by 4203× relative to the price on the day Forbes pronounced it finished.