⸺ Obituary · May 4, 2019 ⸺
“Bitcoin Is Unreliable And Susceptible To Fraud”
— Crypto Twitter (X), Steve Hanke
“Bitcoin is up 6% to its yearly high of around $6,000. Don’t be fooled, a 6% uptick is nothing after its huge plunge. Bitcoin is unreliable and susceptible to fraud, it is not a currency, but nothing more than a highly-speculative asset”
Price at death
$5,876
Today
$72,577
Resurrection
×12.4
On 2019-05-04, Steve Hanke (Economist and Professor, Johns Hopkins University) declared Bitcoin dead via Twitter. Bitcoin was trading at ~$5,876 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on May 4, 2019, when one Bitcoin traded for approximately $5,876. Since then, Bitcoin has appreciated by 12.4× relative to the price on the day Crypto Twitter (X) pronounced it finished.