Peter Thiel: "Being only pro-blockchain is anti-bitcoin"

Peter Thiel: "Being only pro-blockchain is anti-bitcoin" - cbbe2393 6dc3 4bcd 9571 e744465c2780Investor and entrepreneur Peter Thiel, who is a co-founder of Paypal and a Facebook board member, delivered a strong message at the Bitcoin 2022 convention in Miami. Without omitting the names, he mentioned who Bitcoin's enemies are at his lecture and said where he thinks this monetary technology will go. 

Peter Thiel said it is always difficult to know where the price of bitcoin is going, but what he can see is that it is the most honest market in the world. This is because its supply and demand are controlled by the users themselves, not by a central entity. Currently, one BTC is trading above $ 43.600 and its own quotation keep moving second by second. 

Why do you think so?

"The central banks are bankrupt and we are at the end of the fiat monetary regime," said the businessman, referring to the traditional monetary system, such as the dollar, the euro and any national currency. And he pointed out that Bitcoin was warning us about this thanks to its huge global adoption and rising value. “He was telling us that inflation was coming,” he said. 

Despite this, Thiel pointed out that there are no prospect bureaucrats who are holding onto Bitcoin and warned that this must be fought in order for BTC to grow tenfold or a hundredfold from here. So he showed their faces on a screen with some of their most controversial quotes in front of everyone in the convention auditorium. 

It showed investor and entrepreneur Warren Buffett, who he called the main enemy for calling bitcoin "rat poison". He also exposed financier Larry Fink for his pessimistic comments on the matter and banker Jamie Dimon for supporting blockchain technology, but not the main cryptocurrency.  

On the latter, he made a clarification. He suggested that it is ironic to support blockchain technology but not Bitcoin, considering that it is the accounting system that gave rise to Bitcoin and other cryptocurrencies. In this way, he implied that supporting only the blockchain is a typical anti-Bitcoin rotation that doesn't make sense. 

Thiel said the reason billionaires like the ones mentioned above don't invest in BTC is purely political. And because they are linked to traditional finance, which responds to the power of the government. “They need to allocate some of their money in bitcoin,” he said, noting the growth in value of the major cryptocurrency. 

Peter Thiel pointed out that youth are driving bitcoin

Thiel summed up his presentation by stating that the financial gerontocracy (seniors) are running the United States and that the youth are enjoying Bitcoin. Gullup polls reported in CryptoNews support this claim, identifying that the largest number of people who own BTC are young people.  

This ended his participation in the Miami convention. His lecture was one of the most anticipated for several reasons. In addition to being a staunch supporter of Bitcoin, Peter Thiel is one of the great entrepreneurs linked to the online money and technology industry, representing both PayPal and Facebook.  

Thiel is also considered a visionary, as in 1999, when the internet was just being rolled out to some cell phones, he declared that all middle-class people would have one in five years.  

It also predicted in 1999 that phones would have access to their bank accounts and in turn would make it very easy for people to transfer money securely without bank monitoring or tracking. Something that Bitcoin has enabled today, since its inception in 2009. That's why Peter Thiel's predictions and comments have earned a prominent place.