BITCOIN SLAMMED AS ‘CHINESE FINANCIAL WEAPON’ BY BILLIONAIRE PAYPAL FOUNDER
TECH billionaire Peter Thiel recently issued a chilling warning about Bitcoin as its value continues to soar.
The PayPal founder said that the cryptocurrency should be treated as a “Chinese financial weapon” that threatens the global power of the US. Thiel called for tighter restrictions on Bitcoin, which he said could undermine the status of the US dollar as the world’s reserve currency.
The comments represent a change of heart for the mega investor, who has previously described Bitcoin as the “digital equivalent on gold”.
“I do wonder whether at this point, Bitcoin should also be thought [of] in part as a Chinese financial weapon against the US,” Thiel said during an appearance at a virtual event on Tuesday.
“It threatens fiat money, but it especially threatens the US dollar,” he told members of the Richard Nixon Foundation.
