Understand the Brock Pierce scandal

Understand the Brock Pierce scandal

The so called Brock Pierce scandal became a WWW sensation after it was mentioned by comedian John Oliver in an episode of Last Week Tonight.

Oliver did a full 25 minute segment on cryptocurrencies which, for several days, generated a lot of buzz in social networks.

Oliver mocked and dismissed cryptocurrencies as nothing but scandal-ridden gimmicks with no value. In the video, he invited his viewers to search for Brock Pierce scandal. As a result, the term became a Google Trend in March, 2018.

Brock Pierce was a child actor who later went into the videogame business, specifically into the virtual assets niche – items that could be bought and sold inside videogames.

This in-game nature of his business naturally led him into cryptocurrencies.

In 2014, Pierce was elected to manage the Bitcoin Foundation, a tenure marred by mismanagement allegations.

One year later the organization went bankrupt.

It is estimated that Brock Pierce owned between 700 million and 1 billion U$ in cryptocurrency as of early 2018.

on January 2, 2020