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“Bitcoin is a ‘pyramid scheme,’ warns former Wells Fargo CEO Dick Kovacevich” – CNBC | $13,996.74

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Former Wells Fargo Chairman and CEO Dick Kovacevich told CNBC that he believes bitcoin is a scam.

“I think it’s a pyramid scheme. It makes no sense. I’m just surprised it isn’t even lower,” he said on “Squawk on the Street.”

“There’s no fraudulent thing going on. It’s just a pyramid scheme,” he said. “You’re betting that somebody is going to buy it. And some people have been right.”

“The fundamentals make no sense,” he contended.

Eulogy made by Dick Kovacevich

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Zsofia takes care of our readers’ questions. Zsofia started mining Bitcoin, then some altcoins with the available AMD GPUs together with her brother. Although her mining activity has stopped by now her passion for blockchain technology and cryptocurrencies remains.

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