The United States should be concerned over China’s approach to Bitcoin as it may threaten the dollar, PayPal and Palantir Co-founder Peter Thiel warned in a Decrypt report.
- In a virtual event, Thiel said Bitcoin should be looked into as a Chinese financial weapon against the United States as it threatens fiat money, especially the greenback.
- Thiel dubbed Bitcoin as a real concern as it is more likely to serve as a functional reserve currency. The less dominant the dollar is, then the less affected it is by American monetary and foreign policy.
- The venture capitalist said the U.S. should also be asking some tougher questions about exactly how the digital coin works, coming from a geopolitical perspective.
- In the same event, Thiel called himself a “pro-crypto, pro-Bitcoin maximalist.” He has investments in crypto ventures such as Bitcoin miner Layerl Technologies and blockchain development platform Alchemy.