A Cynic’s Guide to Crypto Investing

A Cynic’s Guide to Crypto Investing by Bill Bonner – Bonner and Partners

LISBON, PORTUGAL – It is still warm here in Lisbon. Like summer.

We’re staying at a hotel on the Avenida da Liberdade, with large plane trees shading the wide sidewalks and grand old buildings lining the streets.

Bill explores the shaded streets of Lisbon


Bitcoin went over $6,000 on Sunday and then fell on Monday. This morning, it is at $5,752.

Crypto Bubble

“Dad, there’s going to be a bloodbath…

“We were urging everyone to learn about bitcoin. This is the biggest thing to happen in the money world since gold was introduced.

“But this market has gone crazy. Now, we’re warning people to be careful. As you say, you shouldn’t put any money into cryptocurrencies unless you could say goodbye to it without losing your sense of humor.”

Our in-house enthusiast knows a bubble when he sees one.

“A lot of people are going to lose money in this market.

“I still believe in cryptocurrencies. But now everyone wants to get into cryptos. And a lot of these deals are pure rip-offs. Most of these ICOs [initial coin offerings, ways crypto ventures raise capital] have no hope of succeeding. This is like the dot-com craze at the end of the 1990s.

“We’ve turned defensive. People used to need advice on how to get into cryptos. Now they need advice on how to get out.”

“Gigantic Scam”

Jordan Belfort, the crooked penny stock broker portrayed in the Martin Scorsese movie The Wolf of Wall Street, says initial coin offerings are a “gigantic scam.”

He knows one when he sees one. He served 22 months in prison after pleading guilty to securities fraud and money laundering.

(Whatever fraud and foolishness is involved in cryptocurrencies, it is a mere chemical trace of the scam of the fiat dollar. More on that anon.)

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Bonner and Partners

Bill Bonner founded Agora Inc. in 1978. Since then, it has grown into one of the largest independent newsletter publishing companies in the world. Bill also co-wrote two New York Times bestselling books, Financial Reckoning Day and Empire of Debt, In his latest book, Hormegeddon, Bill describes what happens when you get too much of a good thing in the sphere of public policy, economics and business. This new newsletter is unlike anything else published in America today. Now in this industry, Bill Bonner has agreed to share his secrets and insights every month. It’s like having a super-wealthy uncle share his best ideas, insights and wisdom about business, relationships, investments, trends, developments, ideas and more.