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Billionaire Investor Warns Bitcoin May Be China’s Financial Weapon Against US
Billionaire digital investor Peter Thiel (pictured below), one of the most famous venture capitalists in Silicon Valley, called Bitcoin a threat to the US dollar and warned that it could serve as a financial weapon for China against the United States.
Getty / Neilson Barnard
“Even though I’m a proponent of cryptocurrency and bitcoin, I really wonder if bitcoin should also be seen as part of a Chinese financial weapon against the US at this point,” the PayPal co-founder said during a virtual seminar hosted by the Richard Nixon Foundation this week. «This threatens fiat money, but it especially threatens the US dollar, and China intends to do everything to weaken it.».
Noting China’s recent creation of its own digital currency, the digital yuan, controlled by the central bank, Peter Thiel, who is also a Facebook board member and co-founder of Palantir Technologies, refused to consider it a true cryptocurrency, describing the digital yuan as a «totalitarian measuring instrument.».
Thiel is known for his conflicting views and a rather cool attitude towards China. He criticized Google and Apple for working too closely with the Celestial Empire and called for a thorough audit of Apple’s activities, «since the entire iPhone supply chain is located in China.».