A well-known critic of cryptocurrencies has called bitcoin a bubble and suggests that if users want to gamble, they should simply visit Vegas.

Best-selling author of a scathing bitcoin take-down, Jeffrey Robinson, explained that buying digital currency was gambling, not a form of investing. This latest opinion reiterates his comments in his 2014 book 'BitCon', where he described Bitcoin as pretend currency and said few would use or accept it.

However, despite the rising interest in bitcoin, Robinson recently said that nobody is using it, and that the situation was the media's fault for marketing cryptocurrency. Furthermore, the former investigative journalist confirmed his opinion by saying there is only one side to bitcoin – and it is bad.

Described by the British Bankers' Association as "the world's leading financial crime author", he also compared investing in bitcoin to a roulette wheel. Robinson is now calling for the government to advise people of the potential risks of digital currency, and wants the public to be warned about the questionable nature of crypto before they invest.

After the price crash earlier this week, which saw the cryptocurrency market drop by nearly 50%, recent stats show that Bitcoin is now trading over $11,000 as of 19th January.