Speaking on CNBC yesterday, former chairman and CEO of Wells Fargo Bank Dick Kovacevich made the statement bitcoin a scam.
"I think it's a pyramid model, it does not make sense, I'm just amazed that bitcoins are not going down," he said on CNBC's "Squawk on the Street."
What do you think about this statement?
So he made a statement with non confidence. He is the only one who states that bitcoin is scam and he is only one who states that he don't understand why bitcoin is not going down. So he has no authority to predict that bitcoin is scam or not. I mean if you don't have any clues regarding its existence then how could you predict it's scam nature or how could you claim that one. So you see that's kind of people who creates bad hype in the market. Better skip such news.