UK’s oldest news magazine slams ‘Bitcoin a threat to us all’ and a ‘Ponzi scheme’
The traditional British magazine , The Spectator , may have contributed to another “Bitcoin obituary” in 2024, slamming it as a threat and a “Ponzi scheme .” In a scathing article published on May 24, The Spectator ‘s Ross Clark criticized Bitcoin’s (BTC) resurgence for retail investing. Particularly, Clark highlighted the cryptocurrency‘s volatility and ability to create and destroy fortunes rapidly, questioning its intrinsic value and stability. The author pointed out Bitcoin’s remarkable recovery since January, despite the conviction of Sam Bankman-Fried, founder of FTX. Moreover, Clark attributed this recovery to the Grayscale Bitcoin Trust, an exchange-traded fund (ETF) that simplifies Bitcoin for retail investors. Picks for you Another victory for Ripple v. SEC? Coinbase relists XRP in ...