It’s on, shots fired! Peter Thiel, the legendary co-found of Paypal and the first outside investor in Facebook, has called out the big guns of Investing.
Thiel called Warren Buffet a “Sociopathic Grandpa” and “Enemy No. 1,” for casting doubt on the value of Bitcoin. Thiel also suggested Bitcoin’s price could still increase 100 times over from current levels.
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Peter Thiel is a German-American billionaire entrepreneur, venture capitalist, and political activist. This week Thiel presented at a Bitcoin conference in Miami and let off a scathing attack on some investing legends who refuse to recognize the value of Bitcoin!
Thiel called Warren Buffett a “sociopathic grandpa from Omaha” and “Enemy No 1” of Bitcoin. He also added JP Morgan’s Jamie Dimon and BlackRock’s Larry Fink to his Crypto “enemies list”.
Thiel suggested Bitcoin’s price could increase 100 times from current levels. But before it can get to over $4 million a coin (Its currently trading above $43,000), cryptocurrency would need to see considerably further adoption driven by large institutions, Thiel said.
He believes people like Buffet, Fink, and Dimon are standing in the way of this occurring. “When they choose not to allocate to Bitcoin, that’s a deeply political choice,” said Thiel.
About Dimon, Thiel said his views are part of “the New York City banker bias.” These 3 figures are so influential due to the amount of money they manage. And that’s where Buffett and the other “enemies” come in. They have enough clout to forestall any such shift towards further Bitcoin investment.
He added that those investors are fine touting blockchain, the technology underpinning the cryptocurrency, but feel the need to take down bitcoin and its legitimacy.
They need to be allocating some of their money to Bitcoin,” he said. “We need to push back on them.”
Thiel also criticized central banks around the world, slamming them for their slow uptake on digital technology. The increase in bitcoin’s value over the last several years is “telling us that the central banks are bankrupt,” he said. It’s “telling us that we’re at the end of the fiat money regime.”
If Thiel is right, this could have a significant impact on financial markets. We have Jake McCarthy live every day in CoinCommand, keeping subscribers up to date on all things Crypto!
