Cryptocurrency: Follow The Consensus Of Financial Experts

This blogger has written about the dangers of crypto-currency in general, and Bitcoin in particular. In recent days, Bitcoin, the most prominent example of cryptocurrency, has risen about 75% off its multi-year low 6 months ago (link). However, with its extreme volatility and insufficient regulation, the consensus of responsible financial advisors is that it is only appropriate for short-term investors and speculators. Click on the links below for examples of opinions from responsible sources:

"The SEC’s Office of Investor Education and Advocacy is issuing this investor alert to warn individual investors about fraudulent investment schemes that may involve Bitcoin and other virtual currencies."

https://www.sec.gov/files/ia_virtualcurrencies.pdf

"The seemingly limitless innovations that are springing out of information technology have created enormous opportunities for all kinds of predatory behavior uninhibited by social regulation. Cryptocurrencies are one of the leading contestants in this competition. Crypto is a Ponzi scheme. It’s the IT version of what Bernie Madoff did in a mutual fund fraud in New York City in the 1980s and ‘90s, which was the greatest Ponzi scheme of all time − until now."

https://www.cincinnati.com/story/opinion/contributors/2023/01/29/opinion-cryptocurrency-might-be-the-greatest-ponzi-scheme-of-all-time/69836392007/

"If we should have learned anything from the crashes of 1929 and 2008, it’s that regulation of financial markets is essential. Otherwise, they become Ponzi schemes that eventually leave small investors with nothing and destabilize the entire economy.

"It’s time for the Biden administration and Congress to regulate crypto."

https://www.theguardian.com/technology/commentisfree/2022/jun/19/the-crypto-crash-all-ponzi-schemes-topple-eventually