"‘Black Swan’ Author Calls Bitcoin A ‘Gimmick’ And A ‘Game,’ Says It Resembles A Ponzi Scheme"

Published in CNBC on 2021-04-23, "‘Black Swan’ Author Calls Bitcoin A ‘Gimmick’ And A ‘Game,’ Says It Resembles A 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 $51,161 at the time of publication. Bitcoin reached all-time highs above $60,000 twice, fuelled by institutional adoption and the NFT boom.