PayPal co-founder Peter Thiel says he ‘underinvested’ in Bitcoin

PayPal co-founder Peter Thiel says he ‘underinvested’ in Bitcoin, but still believes the cryptocurrency will be worth more than $100,000.

Peter Thiel, co-founder of PayPal, says he underinvested in Bitcoin. He went on to say that the cryptocurrency is still too volatile and risky for him to invest in. Read more in detail here: peter thiel bitcoin.

 

PayPal co-founder and billionaire venture investor Peter Thiel claimed he should have purchased more Bitcoin after Bitcoin (BTC) hit a fresh all-time high over $67,000.

During an interview with policy think tank Lincoln Network in Miami on Oct. 20, Thiel discussed cryptocurrencies, central banks, and artificial intelligence (AI), according to Bloomberg.

“I feel like I’ve been underinvested in it,” Thiel remarked, adding, “You’re meant to simply purchase Bitcoin.”

The only worry the IT investor had about purchasing Bitcoin was that the investment’s “secret was already known by everyone.” “I believe the responses will continue to be lengthy. “Perhaps it’s still enough of a mystery,” he said.

The recent Bitcoin surge, according to Thiel, is a major source of worry for global central banks. Thiel said that the cryptocurrency’s rise to new record highs “certainly tells us that we are at a total insolvency moment for the central banks.”

Thiel also attacked AI as an opponent to crypto’s drive for decentralization in the interview. “AI, particularly in its low-tech, surveillance version, is basically communist,” he claimed, adding that AI is “going to destroy the planet.”

After rallying to a new all-time high, Bitcoin momentarily flips the Swiss franc.

Thiel is one of the most outspoken supporters of Bitcoin, saying that the cryptocurrency became a viable currency in 2014. Bitcoin, according to the venture capitalist, is “a hedge against the whole world coming apart.” The venture investor cautioned earlier this year that the Chinese central government may be backing Bitcoin as a way of undermining US foreign and monetary policies.

PayPal, which Thiel co-founded in 1998, has been experimenting with cryptocurrency in recent months. Last October, the firm revealed its ambitions to allow users to purchase and trade cryptocurrencies such as Bitcoin. Since then, PayPal has launched cryptocurrency services in the United States and the United Kingdom.

The who owns the most bitcoin is a question that many people have been asking. PayPal co-founder Peter Thiel says he ‘underinvested’ in Bitcoin, but doesn’t regret it.

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