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Peter Thiel Sees High Bitcoin Price as Sign of Real Inflation

Mon, 11/01/2021 - 06:08
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Alex Dovbnya
Billionaire Peter Thiel regrets not buying more Bitcoin when it was cheaper
Peter Thiel Sees High Bitcoin Price as Sign of Real Inflation
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Billionaire PayPal co-founder Peter Thiel has opined that near-record high Bitcoin prices indicate that inflation is not transitory, Bloomberg reports.

Yet, the tech mogul believes that Bitcoin is not necessarily a buy at the current level:

You know, $60,000 Bitcoin, I’m not sure that one should aggressively buy.

Last month, Thiel described high cryptocurrency prices as “the canary in the coal mine,” claiming that it was an ominous sign for the current regime.

Most recently, the billionaire slammed the U.S. Federal Reserve for turning a blind eye to inflation.

Fed Chairman Jerome Powell said it might take longer than expected for elevated inflation readings to come down. Yet, Powell is certain that the central bank will deploy a range of tools at its disposal in order to bring it back down to the 2% level:     

No one should doubt that we will use our tools to guide inflation back down to 2%.

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The highest-ever monthly close

Thiel also voiced some regrets about not buying more Bitcoin at cheaper prices.

In October, the number one cryptocurrency closed at $61,355, which marks its highest monthly candle in history.

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Bitcoin is currently down 9.6% from its all-time high of $67,276.

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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