RATE Group | Economist Brands Bitcoin a “Scam” On Mainstream Media
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Economist Brands Bitcoin a “Scam” On Mainstream Media

02 Jan Economist Brands Bitcoin a “Scam” On Mainstream Media

Posted at 15:25h in Cryptocurrency News by

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While Bitcoin is now over 11 years old, the cryptocurrency is seemingly still subject to accusations by many mainstream economists and investors that it is a “scam.” This was proven recently when an economist bashed the leading digital asset on Yahoo Finance.

If you’ve been following Bitcoin’s news cycle at all over the past few years, you’ve likely seen headlines along the lines of “Prominent Investor Brands Bitcoin a Scam.” While this may seem hyperbolized, variations have this headline have been seen many a time.

For instance, JP Morgan chief executive Jamie Dimon in 2017 called Bitcoin a “fraud” that “won’t end well,” before adding that he would fire any employees dealing with the cryptocurrency in the future. He has since retracted his comments, claiming that he wants nothing to do with the digital asset. Interestingly, the company now has its own digital asset based on Ethereum’s blockchain and its respective cryptocurrency.

Bitcoin Pyramid Scheme

The “Bitcoin Is A Scam”…

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