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Peter Thiel says bitcoin is a 'Chinese financial weapon against the US'

A member of the Facebook board, Peter Thiel, co-founder and former CEO of PayPal, also criticised tech giants for being too close to China.

April 08, 2021 / 01:16 PM IST
Peter Thiel (Screengrab of video on Twitter/@nixonfoundation)

Peter Thiel (Screengrab of video on Twitter/@nixonfoundation)

Tech investor Peter Thiel has said bitcoin can be thought of as a "Chinese financial weapon" against the United States.

"Even though I'm 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 US," Thiel said at a virtual event held for the members of the Richard Nixon Foundation.

Thiel, co-founder and former CEO of PayPal, is a member of the Facebook board.

Thiel said the cryptocurrency hurts fiat money, and especially the US dollar.

"It's sort of China's long bitcoin, and perhaps from a geopolitical perspective, the US should be asking some tougher questions about exactly how that works," he said.

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Thiel also criticised Big Tech companies for being too close to China.

"There's something about the woke politics inside these (tech) companies, the way they think of themselves as not really American companies. And it's somehow very, very difficult for them to have a sharp anti-China edge of any sort," he said.

Former United States Secretary of State Mike Pompeo and former National Security Advisor Robert O'Brien were also present at the event.
Moneycontrol News
first published: Apr 8, 2021 01:16 pm

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