"Bitcoin Is Nothing More Than A Highly Speculative Asset"
BTC_AT_TIME $43,015
Published in Twitter on 2021-09-21, "Bitcoin Is Nothing More Than A Highly Speculative Asset" declared Bitcoin dead or fundamentally doomed. The piece drew parallels to historical speculative manias, arguing that Bitcoin's price was entirely disconnected from any fundamental value. Bitcoin was trading at $40,694 at the time of publication. Bitcoin reached all-time highs above $60,000 twice, fuelled by institutional adoption and the NFT boom.