Is Bitcoin a Ponzi scheme?
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The markets, year-to-date
S&P 500: 5,870.62 ⬆️ 23.78%
FTSE 100: 8,063.61 ⬆️ 4.43%
Bitcoin: $90,147.52 ⬆️ 103.93%
GBP to USD: $1.26 ⬇️ 0.77%
GBP to EUR: €1.19 ⬆️ 3.94%
(As of Friday market close.)
Bitcoin hit an all-time high: Is it a Ponzi scheme?
A while ago Moneyin2 recommended you stay away from Bitcoin as an investment because it is too volatile.
Of course, Bitcoin recently hit a new all-time high, at just over $92,000 per coin. It looks as if Bitcoin may even go over $100,000.
So it is certainly tempting to think, maybe I should get in on this thing?
One way to think about Bitcoin is to remember the story of Boston’s Charles Ponzi, who ran an infamous investment scheme in 1920 that made a lot of people very rich — until it collapsed, leaving an even larger number of people very poor.
There is a fierce academic debate as to whether Bitcoin is a type of Ponzi scheme
Ponzi’s idea was to offer people stock in a company t…