BITCOIN DEPENDS ON CHINESE FINANCING AS A FOUNDATION OF BILLIONAIRE PAYPAL
TECH billionaire Peter Thiel recently issued a warning about Bitcoin as its value continues to rise.
The founder of PayPal said the cryptocurrency should be treated as a “Chinese financial weapon” that threatens the global power of the United States. Thiel called for stricter restrictions on Bitcoin, which he said could weaken the US dollar’s position as the world’s reserve currency.
The comments represent a change of heart for a mega-investor who has previously described Bitcoin as the “digital equivalent of gold.”
“I wonder if Bitcoin should be considered at this point as well [of] partly as China’s financial weapon against the United States, ”Thiel said when speaking at a virtual event on Tuesday.
“It threatens fiat money, but especially the U.S. dollar,” he told Richard Nixon Foundation members.