CandleFocus Bitcoin Up 3,000,000% After It Was Written Off by The Economist
2024-10-21
Author: Content Editor
The article highlights that 13 years ago, The Economist wrote off Bitcoin in an infamous article after it plummeted in value. The article cites the emergence of the first Bitcoin bubble in 2011, driven by media attention from Gawker and the launch of cryptocurrency exchanges. However, the bubble burst, causing a significant price crash. Despite The Economist's skepticism, Bitcoin has gone on to become the best-performing asset of the 2010s and a foundation for a new trillion-dollar industry. Bitcoin's current price is around $67,121, representing a significant increase of approximately 3,000,000% since the article's publication.
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