PayPal Co-Founder: Need to Invest More in Bitcoin

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PayPal co-founder Peter Thiel regretted not investing enough in the first cryptocurrency. At a press conference organized by the Lincoln Network, he advised people to buy the asset, Bloomberg reported.

“You should just buy bitcoin. I think I have under-invested in it, ”Thiel said.

According to the billionaire, he doubted the investment, because he believed that “the secret is already known to everyone.” The businessman suggested that the price of bitcoin could rise, but noted that “the answers have yet to be found.”

Thiel stressed that the achievement of $ 66,000 by bitcoin indicates “the moment of complete bankruptcy of central banks.”

At the conference, he also expressed concern about the development of artificial intelligence technology. In his opinion, cryptocurrencies are a product of libertarian thought and represent “the power of decentralization.” AI, on the contrary, he called “communist” and “centralized.”

The co-founder of PayPal explained that he is not in favor of a legislative ban on artificial intelligence, but urges developers to “think about the fact that they are creating technology that will destroy the world.”

Thiel is a longtime supporter of cryptocurrencies. Back in 2017, he stated that people underestimate the potential of bitcoin – since then, the price of the asset has risen by 5300%.

Founded by the billionaire, venture capital firm Founders Fund actively invests in digital assets-related businesses. She has invested in Paxos over the past few months, NFT-the Royal platform and the decentralized autonomous organization BitDAO.

In April, Thiel called Bitcoin “China’s financial weapon” designed to weaken the US dollar.

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