"Bitcoin Savaged By BIS As ‘A Bubble, Ponzi Scheme And An Environmental Disaster’"

Published in CNBC on 2018-02-06, "Bitcoin Savaged By BIS As ‘A Bubble, Ponzi Scheme And An Environmental Disaster’" 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 $7,700 at the time of publication. Bitcoin crashed more than 80% from its late 2017 peak, with critics pointing to the burst of the speculative bubble.