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    "a sort of natural Ponzi scheme" — Paul Krugman, 2021. Bitcoin prediction poster (BTC $35,853 at the time).
    “a sort of natural Ponzi scheme” — Paul Krugman, 2021. Poster by Buttcoiners.

    “Nice essay via FTAlphaville. Bitcoin has clearly failed in its mission to become money, but its value is sustained because it has become a sort of natural Ponzi scheme”

    $35,853·
    Paul Krugman

    Paul Krugman

    Nobel Prize Economist & Substack Columnist

    Bitcoin since the quote

    Then

    $35,853

    Now

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    Change

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    The context

    On , Paul Krugman (Nobel Prize Economist & Substack Columnist) made this statement while Bitcoin traded at $35,853.

    bubble
    mania
    scam
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    "a sort of natural Ponzi scheme" — Paul Krugman, 2021. Bitcoin prediction poster (BTC $35,853 at the time).
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    Paul Krugman (2021). "a sort of natural Ponzi scheme" — Paul Krugman on Bitcoin. Buttcoiners. Retrieved October 13, 2026, from https://buttcoiners.love/quote/a-sort-of-natural-ponzi-scheme-paul-krugman-bitcoin

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