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Ryanair’s CEO calls Bitcoins a Ponzi Scheme

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Ryanair’s CEO is the latest celebrity to be used to promote a fake Bitcoin trading bot, similar to those “used” by stars like actress Kate Winslet or billionaire Alan Sugar.

Ryanair's CEO calls Bitcoins a Ponzi Scheme

In an interview with the Sunday Times, CEO Michael O’Leary said he had nothing to do with the automated trading program and that Bitcoin itself was a scam, the equivalent of the Ponzi scheme.

Ryanair’s CEO is a new figure in well-known advertising

The fraudulent advertisement, which apparently was hosted on many high-ranking websites, refers to a fake interview about Bitcoins between Ryan Tubridy and O’Leary on The Late Late Show.

“I’m glad I tried Bitcoin because it was some of the biggest and easiest money I have ever made. I’m talking tens of thousands of euros a day on autopilot,” he reportedly said.

The fake interview claims that O’Leary made money on Bitcoin Lifestyle, an auto-trading bot and his bank – the National Ireland Bank – could not prevent O’Leary from spreading his secret. Sounds too good to be true, doesn’t it? However, O’Leary never had anything to do with this system, and the National Ireland Bank does not really exist.

O’Leary is just the last person abused for a bitcoin scam.

Then celebrities usually distance themselves. Spokeswoman Kate Winslet calmly reminded her fans that she was not an accomplice in the fraud with a fake bitcoin automated trading program that promises to do business with 99.4% accuracy, but that the ad was a “misleading promotion that is completely non-fading and completely fake.”

Bitcoin is the equivalent of the Ponzi scheme

But O’Leary played a little differently. He took the opportunity to say in an interview that he hate Bitcoins. When asked to comment on his involvement in Bitcoin, he summed up his view of the cryptocurrency and this scam.

“I have never, and would never, invest one cent in bitcoin, which I believe is equivalent to a Ponzi scheme,” he began. “I would strongly advise everyone with any shred of common sense to ignore this false story and avoid bitcoin like a plague.”

Who knows what will happen next. A spokesman for Winslet said he “addresses this with the appropriate channels.” But a Qatari billionaire, Wissam Al Mana (coincidentally, Janet Jackson’s ex-husband), sued Facebook this year for running a fraudulent ad for Bitcoins that took advantage of his image.

Ryanair’s CEO was certainly not the last, and these BTC “auto-bots” ads won’t just go away. Who will be next?

You might also like: 5 Things to Know Before Investing Into Bitcoin

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.
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