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The pied pipers of cryptocurrency are leading investors to their doom

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If it is not already patently obvious, and has been for a couple years, it would seem we have entertained the Crazy Town section of Crypto-Land.

We have jumped the shark, crossed the Rubicon. We are over our skis and out of our minds.

A couple days ago, so-called investing legend David Portnoy, held an “emergency news conference” to reveal his latest cryptocurrency purchase.

After teasing his followers with a variety of choices, Portnoy revealed that he had purchased $40,000 worth of “safemoon,” a “currency” for which he had no explanation and no idea as to whether it was a Ponzi scheme or a legitimate token. And he bought, if my math is correct, about five billion of them.

At the time of…



Source cnbc.com

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