⸺ Obituary · March 14, 2023 ⸺
“Sayonara Bitcoin”
— X (Twitter), Robin Brooks
“So it turns out that Bitcoin is just another bubble asset that blows up when the Fed gets serious about hiking interest rates. Zero store of value function. Zero diversification benefit. Zero yield. Sayonara Bitcoin...”
Price at death
$24,198
Today
$73,594
Resurrection
×3.0
On 2023-03-14, Robin Brooks (Chief Economist, Institute of International Finance) declared Bitcoin dead via Twitter. Bitcoin was trading at ~$24,198 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on March 14, 2023, when one Bitcoin traded for approximately $24,198. Since then, Bitcoin has appreciated by 3.0× relative to the price on the day X (Twitter) pronounced it finished.