In an interview with CNBC’s “Squawk Box,” actor Ben McKenzie, known for his role as James Gordon in “Gotham,” compared cryptocurrencies to a Ponzi scheme or multi-level marketing (MLM) scheme. He argued that the majority of people in MLMs lose out while a small percentage benefits, and the same concept applies to cryptocurrencies. McKenzie believes that cryptocurrencies are more of a “story” or belief system that can be pushed out of existence if people stop believing in them.
While McKenzie’s views on cryptocurrencies may be skeptical, there is growing institutional interest in Bitcoin. The U.S. Securities and Exchange Commission (SEC) has recently received applications for a Spot Bitcoin Exchange-Traded Fund (ETF) from firms like BlackRock Inc. This signifies the increasing legitimacy of Bitcoin in the financial Market.
However, McKenzie emphasizes the need for better Regulation and licensing in the cryptocurrency market. He highlights that the current market is unregulated and run through shell corporations in the Caribbean. McKenzie suggests that establishing clearer regulations and more sophisticated licensing processes could transform crypto into a proper financial market.
McKenzie’s concerns about the lack of regulation are not unfounded. Last month, the SEC sued both Binance and Coinbase Global Inc. for violating U.S. securities laws, indicating that there are existing issues that need to be addressed to ensure the legitimacy and Security of the cryptocurrency market.
In addition to his concerns about the lack of regulation, McKenzie is more bearish on cryptocurrencies other than Bitcoin. He argues that Bitcoin is at least limited in terms of supply, making it a more tangible and stable Investment compared to other cryptocurrencies.
Despite the skepticism expressed by McKenzie, there are experts who have a more bullish outlook on Bitcoin. Professor Carol Alexander of Sussex University predicts that BTC could reach $50,000 by the end of 2023, suggesting further potential growth for the cryptocurrency.
In conclusion, actor Ben McKenzie views cryptocurrencies as resembling Ponzi schemes or MLM schemes, where a small percentage of people benefit while the majority lose out. He emphasizes the need for better regulation and licensing in the cryptocurrency market to establish it as a proper financial market. While there are growing institutional interests in Bitcoin, McKenzie remains skeptical about cryptocurrencies other than Bitcoin. However, other experts predict further potential growth for Bitcoin in the coming years..
#Actor #Ben #McKenzie #crypto #Ponzi #scheme
parofix.com
While McKenzie’s views on cryptocurrencies may be skeptical, there is growing institutional interest in Bitcoin. The U.S. Securities and Exchange Commission (SEC) has recently received applications for a Spot Bitcoin Exchange-Traded Fund (ETF) from firms like BlackRock Inc. This signifies the increasing legitimacy of Bitcoin in the financial Market.
However, McKenzie emphasizes the need for better Regulation and licensing in the cryptocurrency market. He highlights that the current market is unregulated and run through shell corporations in the Caribbean. McKenzie suggests that establishing clearer regulations and more sophisticated licensing processes could transform crypto into a proper financial market.
McKenzie’s concerns about the lack of regulation are not unfounded. Last month, the SEC sued both Binance and Coinbase Global Inc. for violating U.S. securities laws, indicating that there are existing issues that need to be addressed to ensure the legitimacy and Security of the cryptocurrency market.
In addition to his concerns about the lack of regulation, McKenzie is more bearish on cryptocurrencies other than Bitcoin. He argues that Bitcoin is at least limited in terms of supply, making it a more tangible and stable Investment compared to other cryptocurrencies.
Despite the skepticism expressed by McKenzie, there are experts who have a more bullish outlook on Bitcoin. Professor Carol Alexander of Sussex University predicts that BTC could reach $50,000 by the end of 2023, suggesting further potential growth for the cryptocurrency.
In conclusion, actor Ben McKenzie views cryptocurrencies as resembling Ponzi schemes or MLM schemes, where a small percentage of people benefit while the majority lose out. He emphasizes the need for better regulation and licensing in the cryptocurrency market to establish it as a proper financial market. While there are growing institutional interests in Bitcoin, McKenzie remains skeptical about cryptocurrencies other than Bitcoin. However, other experts predict further potential growth for Bitcoin in the coming years..
#Actor #Ben #McKenzie #crypto #Ponzi #scheme
parofix.com
