How about your first sentence:

"There are few institutional investors involved with Bitcoin and those that are are speculators betting on greater fools and cult like devotees."

This is wrong on two counts. The are not "few" institutional investors involved with Bitcoin; the list is growing by the day. The largest impediment to more institutional money in this space is the custody problem--which is being addressed by several companies, including the behemoth in the financial services industry (Fidelity).

It's also inaccurate to say that those who are there are purely speculators betting on the greater fool theory. In fact, it's pretty arrogant to presume to know what motivates institutional investors, but it ought to be pretty clear that financial services companies are spending millions of dollars building out their trading desks and subject matter experts to accommodate this large and growing segment of the Bitcoin investor community.

The whole premise here is just lazy. Bitcoin is no more a "Ponzi scheme" than any share of stock in a company with little to no earnings. Were you banging the table that Amazon was a Ponzi scheme from 1997 to 2001, when it was an unprofitable company? If so, you should turn in your financial advisor card, and if not, why not--after all, what's the "inherent value" in a share of an unprofitable company beyond a bet that this company may one day become profitable or that you can find some "fool" to pay you a higher price than you paid for that share of stock?