percent of its value since then, and was trading near 8,245 as of 4:10.m. Telegram or subscribe to our newsletter here. The PayPal co-founder backed the idea of bitcoin becoming a store of value instead of a go-to currency for daily transactions. Peter Thiel with Paypal, lets be honest, failed to turn xm forex broker arvostelu PayPal in to a new world currency. Its like bars of gold in a vault that never move, and its a sort of hedge of sorts against the whole world going falling apart, says Thiel. Hes known for smelling out money-making businesses while they are still ideas on a sheet of paper or merely a string of code on a nerdy programmers computer. In the modern age, where technology reigns over virtually all industries, traditional investing maestros like Warren Buffett, George Soros, and Carl Icahnwhose prowess in picking technologies is known to have been limitedare losing their relevance. Now may be a good time to take a second look at Bitcoin). Now, Bitcoin is one disruptive concept whose success seems inevitable even if all other cryptos were to lose their significance in the future. Mine Control m, dont let others mine cryptocurrency at your expense. Thiels venture capital firm, founders Fund has provided seed capital to countless emerging businesses.
Thiel 's investments suggest he may be even more bullish on bitcoin than he lets. Bitcoin is very underestimated: Peter Thiel. Peter Thiel 's Founders Fund has bought millions of dollars in bitcoin, The Wall Street Journal reported Tuesday, citing sources familiar with the situation. Those holdings are worth hundreds of millions of dollars, the newspaper says. It wasn't clear whether Founders had sold any of its holdings, the report.
"I'm not sure I would encourage people to run out right now and buy these cryptocurrencies Thiel said. This tree has branched out over the years, giving birth to dozens of new breeds of cryptocurrencies. To Thiel, his cryptocurrency investment is his hedge against the potential collapse of our financial system. 1 bitcoin, its not likely to happen, just as silver has not managed to overtake leading asset class gold. Thiel does the same, except, here too, technology takes precedence in his investments. ETH/USD ) to beat Bitcoin, he believes that Bitcoin's appeal is in its size. "I'm not talking about a new payments system Thiel said, adding that bitcoin is too cumbersome for that use case. Its like bars of gold in a vault that never move, and its a sort of hedge of sorts against the whole world going falling apart. There will be one online equivalent to gold, and the one youd bet on would be the biggest, said Thiel. But Thiel obviously sees some potential in it thats elusive to ordinary eyes.