PayPal co-founder Peter Thiel said during Sunday’s National Conservatism Conference that the high price of cryptocurrencies is indicative of inflation in fiat currencies.
Peter Thiel stressed that the current price increases for most goods and services are not temporary. He criticized the US Federal Reserve for insufficient and ineffective measures to combat inflation. Thiel said that the Fed did not understand the seriousness of the situation to which the frivolous launch of the “printing press” has led.
“You know, I’m not sure that it is worth buying bitcoin at $ 60,000. But I am sure that this speaks of a crisis,” said the billionaire.
Earlier, Peter Thiel said that he regrets buying an insufficient amount of bitcoins. During an interview in Miami hosted by think tank Lincoln Network, Thiel said that everyone just needs to buy BTC, and he himself invested too little in the first cryptocurrency.
The fact that cryptocurrencies rose on fears of dollar hyperinflation, analysts at JPMorgan Bank previously said.
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