this point with a few possible exceptions said Thiel during the speech. Bitcoin continues to trade around 8000 this week as continued downward pressure from regulators, Google and,. There are all these elements that remind me of 99-2000, that make me nervous: people playing fast and loose with the ICO rules, just like with the IPOs and the dot com bubble.
However, in a surreal moment, considering the venue and its history,. I would be long bitcoin, and neutral to skeptical of just about everything else at this point with a few possible exceptions, he continued. If everyone decided a hundred dollar bill was worthless, you might not want to have a hundred dollar bill anymore. He then proceeded to compare the decentralized currency with an age-old store of value. Thiel sees bitcoin serving more as a store of value rather than a means of exchange for daily transactions. FB ) and sits on the social media giant's board of directors, indicates theres a 50 to 80 percent chance that bitcoin ends up being worthless, and a 20 to 50 percent probability that it moves higher. pYPL ) founder and billionaire Peter Thiel praised bitcoin, the world's largest cryptocurrency by market capitalization, indicating that in time, it will squeeze out smaller rivals such as ethereum.
It wasn't clear whether Founders had sold any of its holdings, the report.
Peter Thiel has once again endorsed bitcoin, which he recently argued is tantamount to digital gold.
And much like gold, the billionaire co-founder.
Thiel 's investments suggest he may be even more bullish on bitcoin than he lets.
And most bubbles are unstable and end. You have the crazy promoter-type people where the people who exaggerate beat the people with the normal plan. Thiel made the remarks at a talk at the Economic Club of New York on Thursday. PayPal co-founder, peter Thiel described, bitcoin as a hedge against the whole world falling apart in new bullish comments March. Nonetheless, the now-infamous Bitcoin bull remains on the positive side of cryptoassets, not discounting the possibility that. He took the opportunity to discuss the broader crypto markets Wild West aspects. "There will be one online equivalent to gold, and the one you'd bet on would be the biggest.". What do you think about.
As previously reported by CoinDesk in January, Founders Fund,.
Billionaire investor Peter Thiel gives his most detailed comments to date on the prospects of bitcoin's future as an investment.
Bitcoin s price might be bottoming, and the entire mainstream business world is touting its demise, but billionaire investor and contrarian Peter Thiel remains constant:.
Founders Fund, the venture-capital firm co-founded by Peter Thiel, has bought large sums of bitcoin that are now worth hundreds of millions of dollars.