Billionaire investor and PayPal co-founder Peter warned that bitcoin could be a “Chinese financial weapon” used to dethrone the USD’s financial position.
Telling alongside former Secretary of State Michael Richard Pompeo at a virtual roundtable hosted by the Richard Nixon Foundation Wednesday, Peter opined that, considering China is long bitcoin, the cryptocurrency could pose a threat to the U.S. dollar’s reserve currency status. The comments come at a time when fears over China’s assumed control over bitcoin is resurfacing.
“Even though I’m a pro-crypto, pro-Bitcoin maximalist person, I do wonder whether at this point Bitcoin should also be thought of in part as a Chinese financial weapon against the U.S…. it threatens fiat money, but it especially threatens the dollar,” Peter told during the stream.
More than being “pro-bitcoin” and owning the asset himself, Peter Thiel’s foundation was key to the creation of Ethereum, once Vitalik Buterin role player a $100,000 grant to start functioning on the blockchain.
Thiel, best known currently for his investment firm Thiel Ventures, has been an outspoken critic against Silicon Valley since he left the tech industry in 2018, claiming that companies like Google and Facebook pose threats to the U.S. given their ties to China, topics he touched on in his talk Wednesday as well.