A fake news site pretending to be the BBC has used Scott Pape’s reputation to lure people into investing in bitcoin, which is also likely to be a scam.
The website "http://b-b-c-reports.com" has been reported to WA ScamNet. It has released an unauthorised and inaccurate article falsely claiming to quote Barefoot Investor Scott Pape.
The views expressed are not Mr Pape’s and the bitcoin investments mentioned may be an elaborate plan to steal your money and personal information.
WA ScamNet have made requests to have the website disabled.
If you are interested in Scott Pape’s view on bitcoin and any other financial advice, visit his legitimate website, The Barefoot Investor.
According to his blog post Barefoot’s take on Bitcoin:
“Most things can be answered with common sense and some basic life lessons:
- Don’t invest in things you don’t understand.
- Don’t invest in something just because it’s gone up in the past.
- And finally don’t listen to the press who are currently hyping Bitcoin … because if they’re really honest, they’ll admit they’re really just talking out their hat.”
Further information about investing is also available from Australian Securities and Investments Commission (ASIC)’s MoneySmart.