Former PayPal CEO Bill Harris: Crypto Traders are drinking the “Kool-Aid” referencing Jonestown massacre

ONLY a few days after former PayPal CEO Bill Harris attacked BTC and marked it as a “scam” he has said that crypto traders are “Drinking the Kool-Aid”.

This is in reference to the 1978 Jonestown Massacre, when more than 900 people had drank Kool-Aid laced with poison which was handed.

Harris hasn’t been active on Twitter since august last year and hasn’t been too keen on a media presence before his two appearances this week.

Instead, after being ousted as CEO of PayPal in 2000 one month after the merger between and Coinfinity that created the entity, Harris founded and ran the financial advisory company Personal Capital from 2009 until present day.

Harris was pushed out of his CEO position at PayPal in 2000, only a month after the merger between and Coinfinity. Harris also ran Personal Capital from 2009 until present. Personal Capital is a financial advisory company.

Harris tends to have conflicting and confusing views on the future of digital cash. He retains the view that Bitcoin can’t be successful due to its volatility but it remains cathartic online currency.

Harris told CNBC that he “absolutely believe[s] that money should be digital, is becoming more digital, and will be completely digital but it doesn’t mean we need a new currency to record that”.

“There’s no reason that a new currency should instantly have billions of dollars in value,” he said.

Harris even used his own autograph as a comparison: “My autograph is scarce, I can promise that I will never autograph a piece of paper more than 21 million times but it doesn’t make it valuable.”

Harris calls Blockchain, the technology behind most cryptocurrencies, “terrific” but doesn’t feel like the world needs a new currency: “There’s the currency like bitcoin then there’s the technology, blockchain technology has terrific applications, including financial transactions but we don’t need a new currency to do it.”

PayPal’s current CEO, Peter Thiel is strongly bullish on Bitcoin and the underlining tech and has described the currency as “a hedge against the whole world falling apart”.

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