“Bitcoin’s market cap on paper by far exceeds that of the competition, but the ability to translate Bitcoin wealth to wealth in other forms is very limited. There are many Bitcoin holders heavily invested in Bitcoin’s success and it has a first mover advantage. However as a store of value, its only value is reputational, and recent developments have shaken that reputation.”
Steven Englander, Head of Forex, Citi · Bitcoin since: +13,337%
A little perspective.
Bitcoin on that day$577.09February 26, 2014
$100 at that price$13,437At our latest price check
Illustrative value using a Bitcoin price of $77,542, checked Nov 1, 2026, 3:37 AM UTC. Excludes fees, taxes, and inflation. A price change alone does not settle the original criticism.
Keep the receipt.
Bitcoin Is Dead. “Bitcoin Is Dead” — Steven Englander, Street Insider, February 26, 2014. Bitcoin: $577.09. https://bitcoindeaths.com/posts/2014-02-26-bitcoin-is-dead