“It can hardly be viewed as a store of value. That requires at least a modicum of stability. Unlike the pound in my pocket, however, I can have no idea what a bitcoin will be worth tomorrow or in a year’s time. That, in turn, reduces its value as a unit of account. Why would another individual be prepared to accept my bitcoin for a good or service when its future value is so uncertain; for the same reason, why would I want to spend my volatile bitcoin rather than hoard it in the hope of further appreciation.”
Tom Stevenson, Investment Director, Fidelity International · Bitcoin since: +970%
As published by Telegraph
A little perspective.
Bitcoin on that day$7,382November 5, 2017
$100 at that price$1,070At our latest price check
Illustrative value using a Bitcoin price of $79,003, checked Oct 29, 2026, 10:06 PM UTC. Excludes fees, taxes, and inflation. A price change alone does not settle the original criticism.
Keep the receipt.
Bitcoin Is Dead. “Bitcoin Is On The Same Path As Every Bubble In History” — Tom Stevenson, Telegraph, November 5, 2017. Bitcoin: $7,382.45. https://bitcoindeaths.com/posts/2017-11-05-bitcoin-is-on-the-same-path-as-every-bubble-in-history