Bitcoin Craze! Is cryptocurrency real money or a Ponzi scheme ?
•Experts woo potential investors, governments warn By Dayo Adesulu W ith Bitcoin’s capitalization of $268 billion, experts say the revolution of the cryptocurrency market has changed the narrative of investment globally, as it successfully displaced Coca-Cola with a capitalisation of $195 billion and Boeing’s $175 billion. From all indications, the emergence of cryptocurrency in the financial market has continued to post a threat to the conventional legal tenders as being used and controlled by the central banks of many nations. While many countries have approved the innovation by creating their own cryptocurrencies , some countries and individuals still perceive the new dispensation as a fraud and a threat to their national economies. Only last week, the government of India, among others, warned its nationals against patronising crytocurrencies which it described as Ponzi schemes. Bitcoin The Central Bank of Nigeria (CBN) had, in a similar vein, early last yea...