RATE Group | Bitcoin price: Expert says bitcoin will ‘undoubtedly’ RALLY in cryptocurrency resurgence | City & Business | Finance
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Bitcoin price: Expert says bitcoin will ‘undoubtedly’ RALLY in cryptocurrency resurgence | City & Business | Finance

03 May Bitcoin price: Expert says bitcoin will ‘undoubtedly’ RALLY in cryptocurrency resurgence | City & Business | Finance

Posted at 21:02h in Bitcoin News by

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The founding PayPal CEO believes there is “no store value” in bitcoin, it should “not be accepted as a means of payment” and has no intrinsic value.

Writing in Recode, Mr Harris said: “Okay, I’ll say it: Bitcoin is a scam.

“In my opinion, it’s a colossal pump-and-dump scheme, the likes of which the world has never seen.

“In a pump-and-dump game, promoters “pump” up the price of a security creating a speculative frenzy, then “dump” some of their holdings at artificially high prices.

“And some cryptocurrencies are pure frauds.”

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