“Beyond that, though, not much remains of Bitcoin’s early, idealistic vision. There was admittedly some democratisation, as over 50 million people bought Bitcoin — more if one includes people who’ve bought shares in funds that own Bitcoin. Yet it never managed to become an actual currency, being too cumbersome and volatile to be useful as a medium of exchange.”
John Rapley, Author / Academic · Bitcoin since: -25%
As published by UnHerd
A little perspective.
Bitcoin on that day$108,667October 20, 2025
$100 at that price$75.28At our latest price check
Illustrative value using a Bitcoin price of $81,801, checked Oct 29, 2026, 4:11 PM UTC. Excludes fees, taxes, and inflation. A price change alone does not settle the original criticism.
John Rapley appears in 2 recorded obituaries. 34 declarations were recorded in 2025.
Keep the receipt.
Bitcoin Is Dead. “The Bitcoin Time Bomb Is Ticking” — John Rapley, UnHerd, October 20, 2025. Bitcoin: $108,667.45. https://bitcoindeaths.com/posts/2025-10-20-the-bitcoin-time-bomb-is-ticking