Famous Bitcoin critic believes Mark Cuban will not be last one
by Peter Schiff shared your thoughts On the lawsuit against Mark Cuban, who allegedly perpetrated a cryptocurrency scam that caused financial losses to those investing in a Ponzi scheme.
Schiff believes that Cuban’s story is just the beginning, and he has been warning people for years that when the Bitcoin bubble pops, all people who lost money in the cryptocurrency industry will try to make some of it back by suing people who promoted certain projects or gave investment advice.
The famous bitcoin critic also believes that Cuban knew how dangerous investing in bitcoin could be, and the businessman knew it was a “scam”, but decided to promote some projects nonetheless.
Schiff was surprised that Cuban used the market opportunity and his name to profit from the crypto mania as he thought that the Shark Tank star has more than enough money to live happily without tying his name up with cryptocurrency scams.
In the end, the gold supporter said that the only people who win from this whole situation are lawyers. Schiff is still a heavy bitcoin critic and does not believe in the long-term future of the asset or the technology behind it.
Recently, Schiff predicted a significant drop of the first cryptocurrency ahead of BTC’s plunge to $21,000.
Scammers are losing their power
According to the most recent cryptocurrency industry report by Chainalysis, the cumulative monthly value received by scams has notably decreased, with the revenue of scammers plunging to $1.6 billion, which is 65% less than the same period back in July of last year.
Improvements in the cryptocurrency market and the lack of large Ponzi schemes are the two main reasons for the decrease in scam revenues.
