"Bitcoin Maximalist" Peter Thiel Believes That China Weaponizes Top Cryptocurrency

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Thu, 04/08/2021 - 06:20
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Alex Dovbnya
Peter Thiel says that China is long Bitcoin
"Bitcoin Maximalist" Peter Thiel Believes That China Weaponizes Top Cryptocurrency
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PayPal co-founder and prominent venture capitalist Peter Thiel said that China was weaponizing Bitcoin to undermine the U.S. dollar at a virtual roundtable organized by the Richard Nixon Foundation:

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…. it threatens fiat money, but it especially threatens the dollar.

He added that the U.S. should be tougher on Bitcoin “from a geopolitical perspective.”

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Back in October 2019, Thiel invested $50 million into Texas-based Bitcoin mining firm Layer1 to offset the Chinese hegemony in the mining industry.

During the roundtable, the billionaire also lambasted Google and Apple for having close ties to China.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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