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?
It is normal for a bankers to make that statement to protect their business because they are one of the sectors that is affected by crypto revolution. Their investors are slowly divert their investment to cryptocurrency and they are also affected in terms of transactions. Many shifted to cryptocurrency to avoid higher fee and efficiency.