Analytics consider Bitcoin as biggest bubble in history

According to Convoy Investments research, Bitcoin price rose in 64 times for last 3 years
13 December 2017   1457

A month ago, Convoy Investments published a chart, which showed the largest financial bubbles in world history. Then bitcoin was second only to the "tulipmania" of the XVII century, but after several weeks of rapid growth, the first crypto currency finally came to the forefront, reports Zerohedge.

As a result, analysts Convoy Howard Wang and Robert Wu have updated their "bubble chart."

Convoy Investments Bubble Chart
Convoy Investments Bubble Chart

Its price has now gone up over 17 times this year, 64 times over the last three years and superseded that of the Dutch Tulip’s climb over the same time frame.
 

Howard Wang
Convoy Investments

It was three years in the Netherlands that the excitement around the bulbs of tulips lasted from 1634 to 1637.

Well known billionaire investor Mike Novogratz predicted at the end of September that crypto-currencies would leave all the other bubbles far behind. 

Crypto Billionaire to Lost 5.5k BTC Due to Fraud

Thai scammers convinced 22 yo Finnish crypto billionaire to invest in their 'investment' scheme
13 August 2018   270

The 22-year-old cryptocurrency millionaire lost more than 5,500 bitcoins after taking part in the investment scheme in Thailand. The case attracted public attention because of the possible participation of a Thai actor. This is reported by Bangkok Post.

A group of scammers in June 2017 persuaded Finnish businessman Aarni Otawa Saarimaa to invest in several Thai securities, a casino in Macau and a crypto currency called Dragon Coin.

Scammers claimed that Dragon Coin could be used in Macau casinos. In addition, they brought Saarimaa to this casino to demonstrate the legitimacy of their project. Saarimaa transferred 5 564 BTC to fraudsters.

In January, without receiving any income for his investments, Saarimaa filed a complaint with the Crime Suppression Division's (CSD), along with his local business partner, who believed that this investment scheme was fraudulent.

CSD began to investigate the case and stated that the group made no investment for Saarimaa, instead transferring all the bitcoins to Thai baht and placing these funds on seven bank accounts.

Although it is not clear when exactly the scammers sold the bitcoins, CSD announced that they raised about 800 million baht or about 24 million dollars.

Then followed a months-long investigation, according to which CSD began to suspect that the Thai film actor Jiratkisit "Boom" Jaravijit also took part in the fraudulent scheme - he was arrested last Wednesday.

In addition, the CSD stated that it suspects the actor's brother, Princess Jaravijit, as the "instigator" of this entire scheme. He left Thailand, traveling to South Korea, and then to the United States. According to the Bangkok Post, CSD is currently working with the US to track him down.