Seriously please acknowledge yourself on the situation before making such claims, you obviously don't understand the value of decentralisation and it's application of distributed consensus. This is the core value why Bitcoin is valuable, not because it's a ponzi scheme or scam that is the easy theory that takes little intellect to form. Anyone can speculate but only a very little percentage make the effort to acknowledge.

If you aren't familiar, fiat currency can be created at any point in time without any signification to the subject's that use it. The monetary supply is always growing through money printing that is ongoing everyday of the year, if you look to some economies their currencies are becoming worthless. You may ask why? Hyper-inflation is why.

I hope you are having a nice day and if you read this, please re-evaluate your theory after some appropriate research.

It's in order to provide liquidity for BTC on Ethereum Solidity based token DEX's, whilst baring a sense of decentralisation. If you ask me it's the wrong way to go about to provide access for the asset, as there is other methods one could take whilst still implement a variation of the smart contract technology.

If you want an example of this theory in a real use case look at WETH, it's been alive for quite some time.