“Simple game theory tells us that a process of backward induction should, really, at some point, induce the smart money to get out. And were that to happen, investors really should be prepared to lose everything. Eventually.”
Thomas Belsham, Media, Bank of England · Bitcoin since: +66%
As published by The Guardian
A little perspective.
Bitcoin on that day$48,385December 14, 2021
$100 at that price$166.03At 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.
Keep the receipt.
Bitcoin Is Dead. “Bitcoin Could Become ‘Worthless’, Bank of England Warns” — Thomas Belsham, The Guardian, December 14, 2021. Bitcoin: $48,385.13. https://bitcoindeaths.com/posts/2021-12-14-bitcoin-could-become-worthless-bank-of-england-warns