{"id":474312,"date":"2021-10-21T13:30:48","date_gmt":"2021-10-21T13:30:48","guid":{"rendered":"https:\/\/wncen.com\/?p=474312"},"modified":"2024-06-11T11:46:59","modified_gmt":"2024-06-11T11:46:59","slug":"peter-thiel-underinvested-in-bitcoin","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/peter-thiel-underinvested-in-bitcoin\/","title":{"rendered":"PayPal Co-founder Peter Thiel Admits He Underinvested In Bitcoin"},"content":{"rendered":"
Billionaire entrepreneur, venture capitalist, and PayPal co-founder Peter Thiel said<\/a>\u00a0he should have bought more Bitcoin. During an interview hosted by the\u00a0Lincoln Network<\/a> in Miami on Wednesday, he spoke about cryptocurrencies, central banks, and Artificial Intelligence.<\/p>\n Miami has become a hotspot for crypto investors. Several crypto startups recently announced new offices in the city. The PayPal co-founder’s venture capital firm,\u00a0Founders Fund<\/a>, was also an early promoter of Miami as a new tech hub.<\/p>\n During the Miami event, Thiel praised cryptocurrencies and admitted that he may have underinvested in Bitcoin. He made these statements after Bitcoin blasted to an all-time high of over $67,000 on Wednesday. Thiel deliberated whether it would rise further. “Bitcoin at $66,000. Is it going to go up? Maybe,” He also added that the surge in crypto prices, “tells us that we are at a complete bankruptcy moment for the central banks.”<\/p>\n Related Reading |\u00a0As Bitcoin Makes New ATH, Netflow Hints BTC Will Explode Here<\/a><\/em><\/strong><\/p>\n In the interview, the tech investor also criticized Artificial Intelligence as a disputant to cryptocurrency. He likened crypto to his political philosophy of being libertarian because it\u2019s a \u201cforce for decentralization,\u201d The tech investor has been a Bitcoin believer for a while now. Even in 2018, when Bitcoin\u2019s price was bottoming, Thiel maintained his stance. \u201cI would be long on bitcoin,\u201d he stated.<\/p>\n Related Reading |\u00a0Billionaire Peter Thiel: Bitcoin\u2019s Potential is Underestimated<\/a><\/strong><\/em><\/p>\n Earlier this week, he also talked about Bitcoin at an event hosted by conservative law group Federalist Society. The PayPal co-founder suggested that Bitcoin’s current bull run points to weaknesses in the U.S. political system. “I don’t know that you should put all your money into Bitcoin at $60,000 a Bitcoin right now,” he said. <\/p>\n In April, while suggesting that Bitcoin may be ‘Chinese financial weapon against the U.S.’, Thiel described himself as a “pro-crypto, pro-Bitcoin maximalist,”<\/p>\n Thiel explained that “From China\u2019s point of view, they want to get \u2014 they don\u2019t like the U.S. having this reserve currency, because it gives us a lot of leverage over Iranian oil supply chains and all sorts of things like that,”<\/p>\n He expressed concern with the Chinese government’s goal to weaken the U.S. dollar. However, weeks later, China defied his predictions by launching a wide-ranging crackdown on Bitcoin and other cryptocurrencies.<\/p>\n Billionaire entrepreneur, venture capitalist, and PayPal co-founder Peter Thiel said\u00a0he should have bought more Bitcoin. During an interview hosted by the\u00a0Lincoln Network in Miami on Wednesday, he spoke about cryptocurrencies, central banks, and Artificial Intelligence. Miami has become a hotspot for crypto investors. Several crypto startups recently announced new offices in the city. The PayPal co-founder’s venture capital firm,\u00a0Founders Fund, was also an early promoter of Miami as a new tech hub. Peter Thiel Praises Crypto During the Miami event, Thiel praised cryptocurrencies and admitted that he may have underinvested in Bitcoin. \u201cYou\u2019re supposed to just buy Bitcoin,\u201d he said, adding: \u201cI feel like I\u2019ve been underinvested in it.\u201d Thiel further pointed out that his only hesitation about investing was that he thought \u201cthe secret was already known by everybody.\u201d He concluded by saying \u201cI think the answers are still to go long. Maybe it still is enough of a secret.\u201d He made these statements after Bitcoin blasted to an all-time high of over $67,000 on Wednesday. Thiel deliberated whether it would rise further. “Bitcoin at $66,000. Is it going to go up? Maybe,” He also added that the surge in crypto prices, “tells us that we are at a complete bankruptcy moment for the central banks.” Related Reading |\u00a0As Bitcoin Makes New ATH, Netflow Hints BTC Will Explode Here In the interview, the tech investor also criticized Artificial Intelligence as a disputant to cryptocurrency. He likened crypto to his political philosophy of being libertarian because it\u2019s a \u201cforce for decentralization,\u201d Therefore, \u201cAI, especially the sort of low-tech, surveillance form, is essentially communist,\u201d because it\u2019s a force for centralization. Thiel further said that he does not want to outlaw AI. Instead, he would like the people building it to \u201cthink about how they\u2019re working on a technology that\u2019s going to destroy the world.\u201d Thiel’s Relationship With Bitcoin The tech investor has been a Bitcoin believer for a while now. Even in 2018, when Bitcoin\u2019s price was bottoming, Thiel maintained his stance. \u201cI would be long on bitcoin,\u201d he stated. Related Reading |\u00a0Billionaire Peter Thiel: Bitcoin\u2019s Potential is Underestimated Earlier this week, he also talked about Bitcoin at an event hosted by conservative law group Federalist Society. The PayPal co-founder suggested that Bitcoin’s current bull run points to weaknesses in the U.S. political system. “I don’t know that you should put all your money into Bitcoin at $60,000 a Bitcoin right now,” he said. “But surely the fact that it is at $60,000 is an extremely hopeful sign,” he continued. Describing Bitcoin as “the canary in the coal mine,” Thiel said, “It’s the most honest market we have in the country, and it’s telling us that this decrepit \u2026 regime is just about to blow up.” BTC trading at over $65K | Source: BTCUSD on TradingView.com In April, while suggesting that Bitcoin may be ‘Chinese financial weapon against the U.S.’, Thiel described himself as a “pro-crypto, pro-Bitcoin maximalist,” Thiel explained that “From China\u2019s point of view, they want to get \u2014 they don\u2019t like the U.S. having this reserve currency, because it gives us a lot of leverage over Iranian oil supply chains and all sorts of things like that,” He expressed concern with the Chinese government’s goal to weaken the U.S. dollar. However, weeks later, China defied his predictions by launching a wide-ranging crackdown on Bitcoin and other cryptocurrencies. Featured image by Real Daily, Chart from TradingView.com<\/p>\n","protected":false},"author":545,"featured_media":474314,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,10334,84516,3378,5730,11479],"class_list":["post-474312","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-cryptocurrecy","tag-lincoln-network","tag-paypal","tag-paypal-bitcoin","tag-peter-thiel"],"acf":[],"yoast_head":"\nPeter Thiel Praises Crypto<\/h2>\n
\n\u201cYou\u2019re supposed to just buy Bitcoin,\u201d he said, adding: \u201cI feel like I\u2019ve been underinvested in it.\u201d Thiel further pointed out that his only hesitation about investing was that he thought \u201cthe secret was already known by everybody.\u201d He concluded by saying \u201cI think the answers are still to go long. Maybe it still is enough of a secret.\u201d<\/p>\n
\nTherefore, \u201cAI, especially the sort of low-tech, surveillance form, is essentially communist,\u201d because it\u2019s a force for centralization. Thiel further said that he does not want to outlaw AI. Instead, he would like the people building it to \u201cthink about how they\u2019re working on a technology that\u2019s going to destroy the world.\u201d<\/p>\nThiel’s Relationship With Bitcoin<\/h2>\n
\n“But surely the fact that it is at $60,000 is an extremely hopeful sign,” he continued. Describing Bitcoin as “the canary in the coal mine,” Thiel said, “It’s the most honest market we have in the country, and it’s telling us that this decrepit \u2026 regime is just about to blow up.”<\/p>\nBTC trading at over $65K | Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Featured image by Real Daily, Chart from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"