Peter Thiel calls Bitcoin “China’s financial weapon”

PayPal co-founder Peter Thiel suggested that bitcoin could be China’s “financial weapon” designed to weaken the US dollar. He stated this during the event of the Richard Nixon Foundation.

“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” says @Paypal co-founder Peter Thiel …

More on cryptocurrencies from The #NixonSeminar :– Richard Nixon Foundation (@nixonfoundation) 

April 7, 2021

“Although I am a supporter of cryptocurrency, I wonder if at this stage Bitcoin should be viewed in part as a Chinese financial weapon against the US […] This threatens fiat money, especially the dollar,” Thiel said.

According to the billionaire, the authorities should consider tightening the regulation of digital assets. 

Earlier, Morgan Stanley Investment Management strategist Ruchir Sharma called Bitcoin a possible competitor to the dollar due to its growing role as a means of payment.

As a reminder, in January 2021, former Canadian Prime Minister Stephen Harper admitted that digital gold and CBDC would add to the basket of reserve currencies.

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