Ehud Barak, a former Israeli Prime Minister, has compared digital currencies to Ponzi schemes, Israeli media agency Arutz Sheva reported on Dec. 3. Barak had participated in the Camp David Accords in 2000 as part of an attempt to solve the Israeli-Palestinian conflict, and now serves as the chairman of medical marijuana producer InterCure. Speaking at an event hosted by Israeli financial outlet Globes in Tel-Aviv this Sunday, Barak fielded a question comparing the alleged marijuana investment “bubble” to crypto by underlining that “he would never invest” in cryptocurrencies as “Bitcoin and cryptocurrencies [are] a Ponzi scheme.”
Institutions were long yelping because of the pain caused by financially deranged time period. But the cryptocurrency has ushered the institutions to their salvation for a better future. They are considered as the industry’s“holy grail’. Just when they thought everything is going well, Nikolay Stronsky at the Libson’s web summit said that the interests from “big institutional investors” has waned. But a profusion of cryptocurrency enthusiasts immaterialized this fact tagging it as a “biased opinion”. Stronsky, is the entrepreneur behind Revolut, with an ostentatious talent for guiding clients to their required financial services. Just recently, about $5.9 billion has entered the market showing that the enthusiasm is not precarious.