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Peter Thiel, Founder of Paypal, gives his thoughts on Bitcoin [BTC]

Rajath Kumar



Peter Thiel Founder of Paypal gives his thoughts on Bitcoin
Source: Wikimedia Commons

Peter Thiel, the Founder of Paypal gave his thoughts on Bitcoin and other cryptocurrencies in an interview with CNBC.

Peter Thiel is an entrepreneur, venture capitalist, political activist, and an author. He had a net worth of $2.6 billion in 2017. Thiel runs Founders Fund which bought $12 million to $20 million of cryptocurrency asset in Bitcoin which caused a rise in the price of Bitcoin by 9% within 24 hours of purchase in January.

He stated that Bitcoin has a high possibility of becoming of store value instead of a go-to currency for everyday use. He also says that there is a 50-80 percent chance of Bitcoin falling down to a point where it would be useless and a  20-50 percent chance of it going higher in its price.

He also says:

“I’m not sure I would encourage people to run out right now and buy these cryptocurrencies.”

He also says that other coins like Ethereum surpassing Bitcoin is only due to its bigger and better features, but the demand for Bitcoin remains huge. He also says that Bitcoin could become a long-term storage asset rather than a go to-asset. He believes that it is an online version of gold.

Theil is a big Bitcoin enthusiast and investor and he has hopes for Bitcoin as he has seen some benefit from his investments. His statement about Bitcoin being a digital gold has become really popular over the internet and has inspired many investors to include themselves in the mainstream and liquidity of Bitcoin.

Peter Thiel had earlier stated:

“I would be long bitcoin, and neutral to sceptical of just about everything else at this point with a few possible exceptions, there will be one online equivalent to gold, and the one you’d bet on would be the biggest.”

Thiel also adds:

“I’m not talking about a new payments system, It’s like bars of gold in a vault that never move, and it’s a sort of hedge of sorts against the whole world going falling apart.”‘

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Rajath Kumar is an intern at AMBCrypto. He became aware of the crypto-world through gaming and has been a part of it for two years now. Rajath does not hold any value in any cryptocurrencies or its projects.

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Bitcoin nirvana is happening right now, says Max Keiser




Bitcoin nirvana is happening right now, says Max Keiser

Bitcoin’s price pump affected the altcoins’ valuation on an optimistic note. The digital coins recovered significantly this year after losing nearly 80% to 90% valuation since the market crash in the first quarter of 2018. As Bitcoin [BTC] continued to trade between $7,600 and $8,300, prominent analysts in the field speculated that the king coin could potentially spiral down a bit more. However, Max Keiser, a Wall Street veteran and host of the Keiser Report, who is also a noted Bitcoin bull is of the opinion that “crypto spring is here”.

The broadcaster, in the latest edition of the Keiser Report, stated,

“It’s just bleeding right into our lives we can hear the lawnmowers outside in there getting ready for crypto summer and then crypto fantasia crypto parallel dimension and the Bitcoin nirvana it’s all happening, it’s all happening, right now.”

Keiser also noted that the global economy was undergoing “deglobalization” which steemed out of uncertainty and volatility and added that there “was no way to hedge against that”.

Stacy Herbert, one of the most influential women in blockchain and a host alongside Keiser contributed to the discussion. She said at a time when deglobalization has hit the economy, one would certainly go along with Bitcoin. According to the broadcasters, trade wars between China and the USA was currently intensifying Herbert; While recalling history, they also took note that the empires started falling during the period of deglobalization which was eventually followed by the two world wars.

Keiser had previously remarked that “Bitcoin is hard money” very similar to gold, and added that it is going to “respond well to hyperinflation and hyper-money printing”.

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