PayPal investor and co-founder Peter Thiel believes that bitcoin may turn out to be a “Chinese financial weapon” designed to undermine the dollar’s status in the global financial system. He made such a statement during the Richard Nixon Foundation event on Wednesday, which was also attended by former US Secretary of State Mike Pompeo.
“Even though I’m a pro-crypto, pro-Bitcoin maximalist person, I do wonder whether if at this point Bitcoin should also be thought of in part as a Chinese financial weapon against the U.S.” says @Paypal co-founder Peter Thiel.
More on cryptocurrencies from The #NixonSeminar: pic.twitter.com/sIUQTQEWgr
— Richard Nixon Foundation (@nixonfoundation) April 7, 2021
“Although I take a maximalist position for cryptocurrencies and for bitcoin, I really wonder if at this stage bitcoin should be considered part of the Chinese financial weapon against the United States. It threatens fiat money, but it especially threatens the dollar, ”Thiel said.
He made his comment while discussing broader Chinese measures to undermine the dollar’s status as the world’s reserve currency. Thus, the venture capitalist admitted that the euro could in part become a financial weapon for China, which is interested in the existence of two reserve currencies instead of one.
“China does not want us to have this reserve currency, as it gives us a lot of control, for example, over the oil supply channels. China wants to take action to weaken the dollar. If China is aiming for bitcoin, perhaps from a geopolitical perspective, the US should be asking more difficult questions about how it actually works, ”he added.
At the same time, Thiel noted that the digital yuan, which is preparing for the launch, is “a kind of internal stablecoin” and “a totalitarian measuring device”, but “not a real cryptocurrency.” In the past, the PayPal co-founder has invested in bitcoin, as well as other cryptocurrencies and cryptocurrency projects.
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