⸺ Obituary · October 15, 2017 ⸺
“Peter Schiff: Bitcoin Is Not The Money Of The Future”
Peter Schiff
Photo: Gage Skidmore (CC BY-SA 3.0), via Wikimedia Commons
“I believe it’s not going to succeed in delivering the monetary utility that people expect. I do not think it’s going to be the money of the future. I think it’s the bubble of the present.”
Price at death
$5,697
Today
$62,500
Resurrection
×11.0
On 2017-10-15, Peter Schiff (Stock Broker / Economist) declared Bitcoin dead via TheStreet. Bitcoin was trading at ~$5,697 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on October 15, 2017, when one Bitcoin traded for approximately $5,697. Since then, Bitcoin has appreciated by 11.0× relative to the price on the day TheStreet pronounced it finished.