Bitcoin is a ‘Dead Man Walking’, Claims Creative Planning CIO

Bitcoin is a “dead man walking” whose price will eventually plunge to zero. That’s the dire prediction of Peter Mallouk, the president and chief investment officer of Creative Planning Inc., a Kansas investment firm that manages $32 billion in assets.

The avowed bitcoin skeptic said BTC bulls are delusional saps who don’t realize that their golden calf is worthless. Mallouk says the current bear market is proof that the end is near.

“It won’t go quietly, but the recent precipitous drop may be the beginning of its inevitable and inexorable death spiral,” Mallouk wrote in Forbes. “Or there could be a dead cat bounce. Either way, I see bitcoin as a dead man walking.”

‘Bitcoin is Heading to Zero’

Mallouk said future generations will read about bitcoin in finance textbooks as a cautionary tale about the dangers of crazed zealots “desperate to make a silk purse out of a sow’s ear.”

The blowhards will be the most devastated when the sham market comes…