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Bitcoin: Criticism and Skepticism Amid $100,000 Surge

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by A1

17 hours ago

Since its launch in 2008, Bitcoin has faced criticism from economists and politicians. Despite its rise to $100,000 in 2024, criticism remains.

Peter Schiff: Concerns for the Dollar

American stockbroker Peter Schiff remains a long-time Bitcoin skeptic. Even as his son invested his entire portfolio in BTC, Schiff continues to criticize the cryptocurrency, viewing it as a threat to the dollar.

Ironically, Bitcoin may end up destroying the dollar if the US government embraces it.

Paul Krugman: Crypto for Crimes

Economist Paul Krugman criticized Bitcoin, questioning its role as money. In 2022, he reiterated that cryptocurrency is used for illegal transactions.

Crypto is to a large extent a Ponzi scheme, which might collapse at any moment.Paul Krugman

ECB: Failure of Global Decentralization

The European Central Bank continues to critique Bitcoin. In 2024, notable ECB figures declared BTC unsuccessful in becoming a global currency, emphasizing its potential for illegal uses.

Bitcoin has failed on the promise to be a global decentralized digital currency.

Despite Bitcoin's records, criticism continues to grow, and opinions on its future remain divided.

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