“The traditional “fundamental” case for bitcoin has been that because its supply is permanently capped at 21 million coins, it can serve as a hedge against inflation in traditional currencies such as the dollar. But the geopolitical turmoil, economic uncertainty, and drop in the value of the dollar relative to other major currencies in recent months have undermined this case. If bitcoin truly served as a hedge, then its value should have risen sharply. Instead, its value plummeted. That’s because bitcoin is not a hedge: It’s a speculative asset, which is valuable solely because people think it is valuable.”
James Surowiecki, Journalist · Bitcoin since: -5%
As published by The Atlantic
A little perspective.
Bitcoin on that day$68,843February 16, 2026
$100 at that price$95.24At our latest price check
Illustrative value using a Bitcoin price of $65,564, checked Nov 14, 2026, 7:37 PM UTC. Excludes fees, taxes, and inflation. A price change alone does not settle the original criticism.
James Surowiecki appears in 2 recorded obituaries. 28 declarations were recorded in 2026.
Keep the receipt.
Bitcoin Is Dead. “Crypto Is A Victim Of Its Own Success” — James Surowiecki, The Atlantic, February 16, 2026. Bitcoin: $68,843.16. https://bitcoindeaths.com/posts/2026-02-16-crypto-is-a-victim-of-its-own-success