"Bitcoin’s Wild Ride Shows The Truth: It Is Probably Worth Zero"

Published in Wall Street Journal on 2017-09-18, "Bitcoin’s Wild Ride Shows The Truth: It Is Probably Worth Zero" declared Bitcoin dead or fundamentally doomed. The piece argued Bitcoin was heading to zero, citing the absence of intrinsic value and the impossibility of sustaining its price without underlying fundamentals. Bitcoin was trading at $4,067 at the time of publication. Bitcoin was in the midst of an extraordinary bull run, rising from $1,000 to nearly $20,000 by December.