Iceland's Finance Ministry Did Not Make $100 Million Deal With "Bitcoin Revolution" - The Reykjavik Grapevine

Iceland’s Finance Ministry Did Not Make $100 Million Deal With “Bitcoin Revolution”

Published October 22, 2018

Andie Fontaine
Photos by
Johann/norden.org/Wikimedia Commons

A hoax article currently circulating social media makes a number of very spurious—and easily debunked—claims about the Icelandic government and Bitcoin. The purpose of the hoax appears to be to lure people into buying the cryptocurrency through a private company, but the operation itself is a scam.

The article in question claims that Iceland’s Ministry of Finance made a deal with a company called The Bitcoin Revolution to the tune of $100 million. Inexplicably, the article features a photo of the Prime Minister, Katrín Jakobsdóttir; the actual Minister of Finance is Bjarni Benediktsson (shown above).

Not only is there no such deal between the Icelandic government and any private cryptocurrency company; simply searching the quotes used in the article shows that this scam has been applied to governments to world over, some as far afield as New Zealand. Even the Pope has been evoked to tout the company.

In reality, The Bitcoin Revolution is a scam which makes wild claims on return of investment, while investors unfortunate enough to use the company have reportedly lost any money they put into it.

There are many viable ways of investing in or purchasing cryptocurrency. The Bitcoin Revolution is not one of the ways, for private citizens and national governments alike.

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