Peter Thiel who is the co-founder of Paypal and Palantir and also for his book Zero to One talked about cryptocurrencies on Thursday during a fireside chat at Economic Club of New York.
Theil had invested in bitcoin as early as 2012 has been bullish on bitcoin.
He said
“long bitcoin, neutral to skeptical on everything else.” “I’m not exactly sure whether or not I would encourage people to turn out and buy these cryptocurrencies right now,” he said.
He believes that there will be one cryptocurrency in the future which will prevail as digital gold and it most likely will be Bitcoin.
“Any of the objections most people would have to bitcoin are the same objections people would have had to gold,” he said. “But money is a bubble that never pops … and there is this bubble-like aspect to money that can be quite stable.”
Thiel’s optimism did not extend to all digital assets.
“I’m not sure I would encourage people to run out right now and buy these cryptocurrencies,” Thiel said.
According to Thiel there is still a chance of other cryptocurrencies like Ethereum that could potentially beat Bitcoin.
Founders Fund, run by Thiel, bought about $15 million to $20 million of dollars in bitcoin, the Wall Street Journal reported in early January, citing sources familiar with the situation.
You can watch the talk here:
Sources:
Peter Thiel thinks that bitcoin will be the one cryptocurrency to rule them all
Peter Thiel Is Bullish on Bitcoin, the Heartland and Trump
Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity
Did you like the news you just read? Please leave a feedback to help us serve you better
Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.
A Record-Breaking Haul for North Korean Hackers In a stunning escalation of cyber threats, has…
Bitcoin's Meteoric Rise Meets Choppy Waters Bitcoin is dancing near the $90,000 mark, captivating investors…
: What This Means for Europe's Financial Future The European Central Bank (ECB) is making…
Navigating the for December 19, 2025 In the ever-shifting landscape of global finance, understanding where…
Introduction: in the Spotlight In the ever-evolving world of cryptocurrencies, the debate around continues to…
Crypto News: , Crypto Market Eyes Bull Shift The cryptocurrency market is experiencing a rough…