“The historical record of Bitcoin suggests its greatest leaps are made thanks to speculation, rather than to any real progress in utility or technology. Bitcoin’s rise to $19,000 from $6,500 at the end of 2017 was fueled by the belief that the price was only ever going to go up. There was no evidence of any increased adoption in the real world — if anything, the heuristics of Bitcoin trading called for hoarding, or HODLing, to sit on the gains.”
Lionel Laurent, Columnist, Bloomberg Opinion · Bitcoin since: +1,153%
As published by Bloomberg
A little perspective.
Bitcoin on that day$6,411June 15, 2018
$100 at that price$1,253At our latest price check
Illustrative value using a Bitcoin price of $80,335, checked Oct 29, 2026, 5:44 AM UTC. Excludes fees, taxes, and inflation. A price change alone does not settle the original criticism.
Lionel Laurent appears in 3 recorded obituaries. 74 declarations were recorded in 2018.
Keep the receipt.
Bitcoin Is Dead. “Bitcoin's Greater Fools Go Into Hiding” — Lionel Laurent, Bloomberg, June 15, 2018. Bitcoin: $6,410.72. https://bitcoindeaths.com/posts/2018-06-15-bitcoins-greater-fools-go-into-hiding