"Bitcoin Is A Ponzi Scheme, And It Will Collapse Like One"
BTC_AT_TIME $16,700
Published in The Hill on 2017-12-11, "Bitcoin Is A Ponzi Scheme, And It Will Collapse Like One" 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 $16,700 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.