Peter Thiel Shreds $100s and Mocks the Unwashed Masses at Crypto Conference
After a brief and boring interlude of opining on Bitcoin and Ethereum, Thiel offered his thoughts on why crypto was lacking mainstream adoption. If you asked anyone else that same question, they’d likely offer opinions backed by tangible evidence: that the world’senergy-sucking Bitcoin wallet in every pocket, or that theseto be useful for everyday transactions.
“Bitcoin is the most honest market in the world. It’s the most efficient market,” Thiel said, “It is telling us that the central banks are bankrupt, that we are at the end of the fiat money regime.”According to Thiel, Bitcoin’s slow adoption is also due to the fact that Federal Reserve Chair Jerome Powell is too ungrateful to the gods of digital finance to see the opportunities it presents.
“I think the central bankers—Mr. Powell, people like that—should be extremely grateful to Bitcoin,” Thiel went on, “Because it’s the last warning they’re going to get. They’ve chosen to ignore it, and they will have to pay the consequences for that in the years ahead.”Thiel himself isn’t known as an especial Bitcoin bull. He said in the very same Miami address that he wished he had bought into the cryptocurrency earlier. In the same vein, Powell has not made a particular enemy of Bitcoin.
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