When Bitcoin (BTC) hit a new all-time high of over $ 67,000, PayPal co-founder and billionaire venture capitalist Peter Thiel said he should have bought more Bitcoin.
Thiel spoke about cryptocurrencies, central banks and artificial intelligence (AI) during an interview in Miami hosted by the Policy Think Tank Lincoln Network, Bloomberg reported on Oct. 20.
“You should just buy Bitcoin,” said Thiel and added: “I have the feeling that I was underinvested.”
The tech investor noted that his only concern about buying Bitcoin was that the investment secret “everyone already knew”. “I think the answers will take a long time. Maybe it’s still secret enough, ”he added.
According to Thiel, the recent Bitcoin rally is definitely a big problem for global central banks. The rise of the cryptocurrency to its new historical highs “certainly shows us that we are in a complete bankruptcy moment for the central banks,” said Thiel.
In the interview, Thiel also criticized AI as an opponent of the decentralization power of crypto. “AI, especially the type of low-tech form of surveillance, is essentially communist,” he said, adding that AI is a technology that “will destroy the world.”
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Thiel is one of the most vocal advocates of Bitcoin and claims that Bitcoin was successful as a currency in 2014. The venture capitalist is also known for calling Bitcoin “a hedge against the world falling apart”. Earlier this year, the venture capitalist warned that the Chinese central government could endorse bitcoin as a means of undermining United States foreign and monetary policies.
PayPal, which Thiel co-founded in 1998, entered the cryptocurrency last year. The company officially announced its plans last October to introduce the ability to buy and sell cryptocurrencies like Bitcoin. PayPal has since rolled out crypto services in the United States and the United Kingdom.