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.”
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.
Dan Burgin
U.Today Editorial Team
