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Former PayPal CEO Calls Bitcoin a Cult That’s Going to be Zero

The founder and former CEO of the PayPal payment system, Bill Harris, again criticized bitcoin, calling it a “cult” whose value “tends to zero.” He made this statement in the Fast Money program on CNBC.

In a conversation with a crypto-currency entrepreneur and well-known bitcoin supporter Bryan Kelly, who was also present in the studio, Harris in particular stated that fans of the bitcoin cult are arguing with various statements, including that he is “instant, cheap, scalable, effective, safe, global and useful, but nothing he is not. ”

Asked by Kelly to clarify these words about the fact that “bitcoin tends to zero,” Harris replied evasively:
“I did not mean to say that it’s going to be zero. I said that in the end it will be much closer to zero, because it has no value. “

Despite the fact that Brian Harris agreed with Kelly that the rapid transfer of money between different countries today is difficult, he nonetheless believes that for this “the world needs faster networks, not bitcoin or XRP.”

Stopping this point in more detail, Harris said that bitcoin does not have any real ones, and that there are already more stable, widely accepted and valued digital currencies in the world.

“I see absolutely no reason to call bitcoin useful. Volatility alone makes it useless, not to mention the fact that it can be called a payment mechanism or a means of accumulating values,” he says.

The former CEO, whose professional experience in the world of finance has more than 20 years, also mentioned “I’m not saying that there are no magic ideas in the world that would deserve financing and would have great value and power. But we always talk about skins and why they win in the competition. In the case of bitcoin, I can not find any yuzkeysa, except for criminal activities.”

In April, Bill Harris said that bitcoin involves people in a spiral of greed, has no real value, and in fact is nothing more than fraud.

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