⸺ Obituary · January 30, 2018 ⸺
“Bitcoin Is Basically A Ponzi Scheme”
Paul Krugman
Photo: The White House (public domain), via Wikimedia Commons
“Bitcoin, by contrast, has no intrinsic value at all. Combine that lack of a tether to reality with the very limited extent to which bitcoin is used for anything, and you have an asset whose price is almost purely speculative, and hence incredibly volatile.”
Price at death
$10,035
Today
$62,500
Resurrection
×6.2
On 2018-01-30, Paul Krugman (Economist) declared Bitcoin dead via Seattle Times. Bitcoin was trading at ~$10,035 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on January 30, 2018, when one Bitcoin traded for approximately $10,035. Since then, Bitcoin has appreciated by 6.2× relative to the price on the day Seattle Times pronounced it finished.
