At a virtual event for the Richard Nixon Foundation, and first reported by Bloomberg News, PayPal co-founder Peter Thiel said that bitcoin “threatens fiat money, but specifically threatens the US dollar.”
“Even though I am a pro-crypto and pro-bitcoin maximalist person, I wonder if at this point bitcoin should also be viewed in part as a Chinese financial weapon against the United States” he said.
Thiel said China would like there to be two global reserve currencies, rather than the dollar as the default reserve currency. China has used the euro “in part” as a weapon against the dollar in the past. That didn’t work, so now he may be looking to elevate bitcoin..
“[If] China’s long bitcoin, perhaps from a geopolitical perspective, the U.S. should be asking some tougher questions about exactly how that works”, in according with Thiel
China recently launched a blockchain-based digital version for the digital yuan, but Thiel didn’t paint this move well: “That’s not a real cryptocurrency, that’s just some sort of totalitarian measuring device,” he said.
