“Personally I’m very skeptical of bitcoin, I know where the price action is. It’s, you know, going up about 10% a day at this point. Although bitcoin could go up to 20,000, it can go to 30,000. It’s on it’s way to zero — somewhere between zero and 200. It’s a utility token for criminals, terrorists, money launderers, tax evaders — they’ll always find some use for it. So it might not go all the way to zero. It’s clearly a bubble — it looks like the second biggest bubble in history after tulip mania. Although at the rate it’s going it will pass tulip mania, you know, in a matter of days. [It’s] bigger than the south sea bubble, bigger than the Mississippi bubble, New York’s — the Dow Jones in 1929, the Nikkei in 1989 — name your bubble, it’s bigger than all of them.”
James Rickards, Economist, Investment banker · Bitcoin since: +512%
As published by Business Insider
A little perspective.
Bitcoin on that day$11,181December 3, 2017
$100 at that price$611.80At our latest price check
Illustrative value using a Bitcoin price of $68,405, checked Nov 13, 2026, 11:03 PM UTC. Excludes fees, taxes, and inflation. A price change alone does not settle the original criticism.
James Rickards appears in 2 recorded obituaries. 93 declarations were recorded in 2017.
Keep the receipt.
Bitcoin Is Dead. “Economist James Rickards On Gold Versus Bitcoin — Intrinsic Value Is Meaningless For Both But The Bitcoin Prices Aren't Real” — James Rickards, Business Insider, December 3, 2017. Bitcoin: $11,180.89. https://bitcoindeaths.com/posts/2017-12-03-economist-james-rickards-on-gold-versus-bitcoin-intrinsic-value-is-meaningless-for-both-but-the-bitcoin-prices-arent-real