Bitcoin History s2e7: Never Trust a Ponzi (2012 Crash)

June 16, 2023

In the summer of 2012 Bitcoin Savings and Trust which was a Ponzi scheme promising large weekly payouts to investors stopped its payouts Bitcoin Savings and Trust.

Operator Trenton Shavers eventually went to jail for his activities the BTC price gained almost 20 percent in two days topping out at 16.41 on August 16 2012.

Losing all the gains and bottoming out at just seven dollars and 10 cents three days later the price sounds low but percentage-wise this was a big move the Silver Lining here is Bitcoin has proved to be resilient in the face of Market Corrections year over year.
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#Bitcoin #btc #cryptocurrency

The views or opinions expressed in the broadcasts are solely those of the individuals involved and do not necessarily represent those of INK Research and Canadian Insider.

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