Peter Thiel Called Bitcoin a ‘Chinese Financial Weapon’
Peter Thiel, PayPal’s co-founder, gave an opinion on Bitcoin that sounds a little like a conspiracy theory. Although he is a well-known pro-crypto and Bitcoin enthusiast he thinks that Bitcoin may be a part of Chinese financial weapon against the USA.
He shared this thought on an event devoted to Richard Nixon’s fund. He explains these thoughts by the fact of the U.S.Dollar getting weaker as Bitcoin enters the scene. Thiel believes it threatens fiat money, and dollars in particular, and the authorities should regulate it more strictly.
He wasn’t the first to come up with that opinion. Earlier, Ruchir Sharma, the strategist of Morgan Stanley Investment called Bitcoin a possible competitor for a dollar. The tension between the US and China is real, and the weakness of the dollar may be used in this rivalry.