Tendayi Kapfidze: Bitcoin Is a Solution Without a Problem

As we’ve mentioned in the past, bitcoin does not – and cannot – appeal to everyone, and now we can add another angry doubter to the growing list of skeptics.

Bitcoin Doesn’t Please Everyone

The latest person to say “no” to bitcoin is Tendayi Kapfidze, a chief economist at Lending Tree. He recently referred to bitcoin in negative terms, calling it a “pyramid scheme” that invokes questionable means of making money for its investors.

He stated:

It’s a pyramid scheme. You only make money based on people who enter after you.

Kapfidze’s words mirror those of Berkshire Hathaway CEO Warren Buffett, another bitcoin skeptic who has never been afraid to express his views. He has often claimed that that the currency is something of a fraud; a unit of finance with value simply based on the idea that someone might be dumb enough to purchase it from you.

In an interview with CNBC last May, Buffett explained:

It’s a gambling device. There’s been a lot of fraud connected with it……