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"I Have Never, and Would Never, Invest One Cent in Bitcoin": Ryanair CEO

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Sun, 08/23/2020 - 08:12
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Alex Dovbnya
Ryanair CEO Michael O'Leary says you should avoid Bitcoin "like a plague"
"I Have Never, and Would Never, Invest One Cent in Bitcoin": Ryanair CEO
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Michael O'Leary, the CEO of European low-cost airline giant Ryanair, recently told The Sunday Times that he would never invest “one cent” in Bitcoin, comparing it to a Ponzi scheme:     

“I have never, and would never, invest one cent in bitcoin, which I believe is equivalent to a Ponzi scheme.”

The Irish billionaire also recommended avoiding the world’s largest cryptocurrency “like a plague”:

“I would strongly advise everyone with any shred of common sense to ignore this false story and avoid bitcoin like a plague.” 

Bitcoin fraudsters are exploiting O'Leary’s name 

O'Leary delivered this scathing critique of Bitcoin after he got inadvertently involved in promoting a cryptocurrency scam called Bitcoin Lifestyle, expanding the list of fake celebrity endorsements.

A fake interview with “The Late Late Show” presenter Ryan Tubridy where O'Leary encourages viewers to put their money in the sham is being promoted on numerous high-traffic websites to lure potential investors:    

“The Late Late Show host Ryan Tubridy was left in disbelief as Michael pulled out his phone and showed viewers how much money he’s making through this new money-making programme that has everybody in Ireland whispering.”

They use the name of a non-existent Irish bank that was allegedly terrified by O'Leary’s investment that brings him “a windfall of cash” on a daily basis.    

As reported by U.Today, a plethora of other prominent personalities — from “Top Gear” host Jeremy Clarkson to British actor Daniel Craig — had their famous names exploited by scammers on social media.

Related
Elon Musk’s and Bill Gates' Twitter Accounts Get Hacked to Advertise Bitcoin Giveaway Scam

Hydra-headed Bitcoin scams 

While fake celebrity-endorsed cryptocurrency ads remain a major problem, comparing Bitcoin to a plague seems like a bit of a stretch.

Bitcoin Lifestyle
image by tbbob.com

After all, Bitcoin Lifestyle has nothing to do with the legitimate cryptocurrency that has a market cap of $244 bln as of today, and O'Leary appears to be struggling to tell the difference between the two.  

It’s a hydra-headed scam in the likes of Bitcoin Profit and Bitcoin Evolution that offers miraculous software with fake demos and promises guaranteed multi-million returns. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.