Billionaire Thiel Says Bitcoin Could Be Chinese “Weapon”

PayPal co-founder and billionaire investor Peter Thiel warned that bitcoin could be a “Chinese financial weapon” used to dethrone the USDs monetary status.

Speaking alongside former Secretary of State Mike Pompeo at a virtual roundtable hosted by the Richard Nixon Foundation Wednesday, Thiel opined that, assuming China is long bitcoin, the cryptocurrency could pose a threat to the U.S. dollar‘s reserve currency status. The comments come at a time when fears over China’s assumed control over bitcoin are resurfacing.

“Even though Im 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,” Thiel said during the stream.

More than being “pro-bitcoin” and owning the asset himself, Peter Thiels foundation was key to the creation of Ethereum when Vitalik Buterin drew a $100,000 grant to begin working on the blockchain.

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