The Contrarian Peter Thiel on Bitcoin

Peter Thiel Bitcoin

Peter Thiel is one of the most successful investors and entrepreneurs alive today. His venture capital firm “Founder’s Fund” owned >10% of Facebook at one point and he has invested in big startup names including LinkedIn, Space X,  AirBnb and Stripe. He co-founded PayPal and Palantir. In this video, clarifies his belief that Bitcoin is undervalued as a reserve form of money and uses the “Gold/Bitcoin” analogy. His logic is that there is around $70 billion of Bitcoin in the world and around $9 trillion of gold… It is difficult…

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The Biggest Problem with Bitcoin as a Currency

Biggest Problem with Bitcoin

The biggest problem with Bitcoin as a currency is not that it has no real value… The biggest problem with Bitcoin as a currency is its volatility. Bitcoin does have legitimate value… Indeed, it has as much value as anything that people can believe in. However, no buyer in their right mind would ever choose to use Bitcoin to make a purchase for anything… Not unless they were 100% sure that the price of Bitcoin would fall immediately after the transaction was complete. Conversely, no seller in their right mind…

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