The debate about whether Bitcoin is a legitimate investment or a dangerous pyramid scheme has been raging for years. The latest person to take a stand on the issue is geopolitical strategist Peter Zeihan, who recently declared that Bitcoin is a pyramid scheme.
What is a Pyramid Scheme?
Before diving into Zeihan’s opinion, it’s important to understand what a pyramid scheme is. In a nutshell, a pyramid scheme is an illegal financial scheme in which participants make money by recruiting additional members into the scheme. They do not generate any real value or profits, but instead rely on the money from new recruits to pay existing members.
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