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Bitcoin is 'useless as a payment mechanism and ridiculous as a store of value,' ex-PayPal CEO says

From cnbc.com

Bitcoin will continue to fall, because "there's just no value there," former PayPal CEO Bill Harris told CNBC on Tuesday. "The cult of bitcoin [makes] many claims — that it's instant, free, scalable, efficient, secure, globally accepted and useful — it is none of those things," Harris said on CNBC's "Fast Money." Harris, who is also founder of Personal Capital Corporation, came out swinging against bitcoin in an April op-ed in which he called the cryptocurrency a "colossal pump-and-dump scheme, the likes of which the world has never seen." Harris said Tuesday that bitcoin's value will continue to dwindle until it ... (full story)

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  • Category: Fundamental Analysis