⸺ Obituary · March 25, 2025 ⸺
“Should We Compare Bitcoin To Gold? Lessons From The Last Financial Crisis”
— Knowledge at Wharton, Rahul Kapoor
“The striking parallels between Bitcoin and MBS suggest that history may be repeating itself. In fact, the negative consequences of the analogy of Bitcoin to gold might be even more severe than the analogy of MBS to bonds. While most MBS at the end of the day were backed by real assets — mortgages on real houses — Bitcoin is not backed by any real assets. If you are not in the business of speculation, steering clear of investing in Bitcoin — or for that matter any cryptocurrency — may be the best way to avoid the fallout from another misguided analogy.”
Price at death
$87,472
Today
$73,405
Decline
-16%
On 2025-03-25, Rahul Kapoor (Professor, Wharton School) declared Bitcoin dead via Knowledge at Wharton. Bitcoin was trading at ~$87,472 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on March 25, 2025, when one Bitcoin traded for approximately $87,472. Bitcoin remains below its price on the day of this declaration — for now.