⸺ Obituary · October 28, 2017 ⸺
“Inside Warren Buffett’s Master Class On Bitcoin”
Warren Buffett
Photo: U.S. International Trade Administration (public domain), via Wikimedia Commons
“People get excited from big price movements, and Wall Street accommodates…you can’t value Bitcoin because it’s not a value-producing asset.” It’s a “real bubble.”
Price at death
$5,733
Today
$62,500
Resurrection
×10.9
On 2017-10-28, Warren Buffett (CEO, Berkshire Hathaway) declared Bitcoin dead via MarketWatch. Bitcoin was trading at ~$5,733 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on October 28, 2017, when one Bitcoin traded for approximately $5,733. Since then, Bitcoin has appreciated by 10.9× relative to the price on the day MarketWatch pronounced it finished.
