“While perhaps intended as an alternative payment system with no government involvement, it has become a combination of a bubble, a Ponzi scheme and an environmental disaster,” he said. “The volatility of bitcoin renders it a poor means of payment and a crazy way to store value.”
Augustin Carstens, General Manager, Bank for International Settlements · Bitcoin since: +943%
As published by CNBC
Bitcoin Savaged By BIS As ‘A Bubble, Ponzi Scheme And An Environmental Disaster’ ↗
A little perspective.
Bitcoin on that day$7,700February 6, 2018
$100 at that price$1,043At our latest price check
Illustrative value using a Bitcoin price of $80,335, checked Oct 29, 2026, 5:44 AM UTC. Excludes fees, taxes, and inflation. A price change alone does not settle the original criticism.
Keep the receipt.
Bitcoin Is Dead. “Bitcoin Savaged By BIS As ‘A Bubble, Ponzi Scheme And An Environmental Disaster’” — Augustin Carstens, CNBC, February 6, 2018. Bitcoin: $7,700.39. https://bitcoindeaths.com/posts/2018-02-06-bitcoin-savaged-by-bis-as-a-bubble-ponzi-scheme-and-an-environmental-disaster