“People are buying Bitcoin because they expect other people to buy it from them at a higher price; the definition of the greater fool theory. …When the crash comes, and it cannot be too far away, it will be dramatic.”
Buttonwood, Economist · Bitcoin since: +1,092%
As published by Economist
A little perspective.
Bitcoin on that day$6,750November 1, 2017
$100 at that price$1,192At our latest price check
Illustrative value using a Bitcoin price of $80,429, checked Oct 29, 2026, 2:27 PM UTC. Excludes fees, taxes, and inflation. A price change alone does not settle the original criticism.
Keep the receipt.
Bitcoin Is Dead. “Greater Fool Theory: The Bitcoin Bubble” — Buttonwood, Economist, November 1, 2017. Bitcoin: $6,750.17. https://bitcoindeaths.com/posts/2017-11-01-greater-fool-theory-the-bitcoin-bubble