"UCLA Faculty Voice: Bitcoin Is An Energy-Wasting Ponzi Scheme"
BTC_AT_TIME $5,519
Published in UCLA on 2017-10-24, "UCLA Faculty Voice: Bitcoin Is An Energy-Wasting Ponzi Scheme" declared Bitcoin dead or fundamentally doomed. The piece characterised Bitcoin as a fraudulent scheme with no underlying value, arguing it would inevitably collapse once new buyers dried up. Bitcoin was trading at $5,519 at the time of publication. Bitcoin was in the midst of an extraordinary bull run, rising from $1,000 to nearly $20,000 by December.