The founding PayPal CEO believes there is “no store value” in bitcoin, it should “not be accepted as a means of payment” and has no intrinsic value.
Writing in Recode, Mr Harris said: “Okay, I’ll say it: Bitcoin is a scam.
“In my opinion, it’s a colossal pump-and-dump scheme, the likes of which the world has never seen.
“In a pump-and-dump game, promoters “pump” up the price of a security creating a speculative frenzy, then “dump” some of their holdings at artificially high prices.
“And some cryptocurrencies are pure frauds.”