Neither of these. Even worse, variations such as Machu Piccu, Machu Piccha, Macho Picho or Matchu Pitchu: Culture of Machu Piccha, for example, just to mention a quite frequent phrase, is a huge spelling mistake.
The correct name of the Inca ruins is Machu Picchu, which means Old Summit in Quechua, the original language of the Inca culture. Quechua is largely spoken today throughout the Peruvian Andes, specially in Peru's south.
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