The Spectator's assessment: Bitcoin as a threat
Date: 2024-05-27 Author: Oliver Abernathy Categories: BUSINESS
The Spectator has expressed its concerns about Bitcoin, arguing that it is becoming a threat to the traditional financial system. In their review article published on May 24, journalists criticized the flagship of the crypto market, comparing it to a Ponzi scheme and calling it a game with negative mathematical expectation.
High volatility and risks
The main criticism was the noted high volatility of Bitcoin, which makes it a high-risk asset for investment. Journalists also stressed that the growing popularity of spot Bitcoin ETFs could make investing more like games of chance, noting that Bitcoin has no real value.
Threat to traditional investors
The Spectator expressed concerns that the emergence of spot funds would make access to Bitcoin much easier, which could result in conservative investors losing large amounts of money and being disadvantaged by fast-paced market participants.
Suspicions in the bubble
Although journalists consider Bitcoin to be a bubble, they have recognized its resilience as an asset. They mentioned historical analogies with the “tulip rush” and the “dot-com crisis”, but noted the continued resilience of Bitcoin, despite the doubts of many experts.
Despite the criticism, Bitcoin continues to attract the attention of investors and demonstrate impressive growth dynamics, remaining one of the most discussed assets in the modern financial market.
