Is the Fibonacci betting strategy a viable one in blackjack?

[Bigron]

The Fibonacci system is a negative progression betting system, meaning it involves increasing your stakes following a losing wager. The theory is that doing this will help you to win money, as you’re likely to have higher stakes on winning wagers than you are on losing wagers. This principle applies to all negative progression systems. My query is whether this system is a workable and viable strategy when it comes to blackjack.