Bullshit is everything!
Gold will remain as a physical asset.
And about the Bitcoin half the world does not know and everywhere it is forbidden.
Plus, it constantly falls in price.
Topic: Peter Thiel: Bitcoin Will Be the 'One Online Equivalent to Gold' (Read 113 times)
Peter Thiel has once again endorsed bitcoin, which he recently argued is tantamount to digital gold.
And much like gold, the billionaire co-founder of PayPal conjectures that the cryptocurrency is destined to be a store of value rather than a means of payment.
"It's like bars of gold in a vault that never move," he told a CNBC reporter during a conversation at the Economic Club of New York last week, adding:
"It's sort of hedge of sorts against the whole world falling apart."
He also struck a bullish tone on bitcoin in particular - versus other cryptocurrencies - suggesting that the largest cryptocurrency by market capitalization will maintain its position.
"There will be one online equivalent to gold," he reportedly claimed, "and the one you'd bet on would be the biggest."
Despite his prediction, Thiel did not express complete confidence in bitcoin, and speculated that there is a 50 to 80 percent chance that it will have no value in the future. Nonetheless, he also noted that on the flip side, there is a 20 to 50 percent chance that it will increase in value.
"Probability weighted, it's good," he told CNBC.
Thiel's investments suggest he may be even more bullish on bitcoin than he lets on. As previously reported by CoinDesk in January, Founders Fund, of which Thiel is the co-founder, recently purchased between $15 million to $20 million worth of bitcoin across several of its funds.
He has also publicly stated that he believes critics are "underestimating" the cryptocurrency.
~ By coindesk.com~
I like that, i have the same thought with that guy. Bitcoin is more suitable to be the store of a value rather than global payment system. We know that the scalability of bitcoin doesn't even better than the new altcoins right now. Honestly bitcoin lightning network will not even change a lot of the scalability of bitcoin. And much like gold, the billionaire co-founder of PayPal conjectures that the cryptocurrency is destined to be a store of value rather than a means of payment.
"It's like bars of gold in a vault that never move," he told a CNBC reporter during a conversation at the Economic Club of New York last week, adding:
"It's sort of hedge of sorts against the whole world falling apart."
He also struck a bullish tone on bitcoin in particular - versus other cryptocurrencies - suggesting that the largest cryptocurrency by market capitalization will maintain its position.
"There will be one online equivalent to gold," he reportedly claimed, "and the one you'd bet on would be the biggest."
Despite his prediction, Thiel did not express complete confidence in bitcoin, and speculated that there is a 50 to 80 percent chance that it will have no value in the future. Nonetheless, he also noted that on the flip side, there is a 20 to 50 percent chance that it will increase in value.
"Probability weighted, it's good," he told CNBC.
Thiel's investments suggest he may be even more bullish on bitcoin than he lets on. As previously reported by CoinDesk in January, Founders Fund, of which Thiel is the co-founder, recently purchased between $15 million to $20 million worth of bitcoin across several of its funds.
He has also publicly stated that he believes critics are "underestimating" the cryptocurrency.
~ By coindesk.com~
Ever since I knew bitcoin, I never considered it as a currency or something that could replace fiat wherein you would use it to buy goods and other necessities in your life.
I just see it as an asset or a store of value, and as an ETF.
I just see it as an asset or a store of value, and as an ETF.
Peter Thiel has once again endorsed bitcoin, which he recently argued is tantamount to digital gold.
And much like gold, the billionaire co-founder of PayPal conjectures that the cryptocurrency is destined to be a store of value rather than a means of payment.
"It's like bars of gold in a vault that never move," he told a CNBC reporter during a conversation at the Economic Club of New York last week, adding:
"It's sort of hedge of sorts against the whole world falling apart."
He also struck a bullish tone on bitcoin in particular - versus other cryptocurrencies - suggesting that the largest cryptocurrency by market capitalization will maintain its position.
"There will be one online equivalent to gold," he reportedly claimed, "and the one you'd bet on would be the biggest."
Despite his prediction, Thiel did not express complete confidence in bitcoin, and speculated that there is a 50 to 80 percent chance that it will have no value in the future. Nonetheless, he also noted that on the flip side, there is a 20 to 50 percent chance that it will increase in value.
"Probability weighted, it's good," he told CNBC.
Thiel's investments suggest he may be even more bullish on bitcoin than he lets on. As previously reported by CoinDesk in January, Founders Fund, of which Thiel is the co-founder, recently purchased between $15 million to $20 million worth of bitcoin across several of its funds.
He has also publicly stated that he believes critics are "underestimating" the cryptocurrency.
~ By coindesk.com~
And much like gold, the billionaire co-founder of PayPal conjectures that the cryptocurrency is destined to be a store of value rather than a means of payment.
"It's like bars of gold in a vault that never move," he told a CNBC reporter during a conversation at the Economic Club of New York last week, adding:
"It's sort of hedge of sorts against the whole world falling apart."
He also struck a bullish tone on bitcoin in particular - versus other cryptocurrencies - suggesting that the largest cryptocurrency by market capitalization will maintain its position.
"There will be one online equivalent to gold," he reportedly claimed, "and the one you'd bet on would be the biggest."
Despite his prediction, Thiel did not express complete confidence in bitcoin, and speculated that there is a 50 to 80 percent chance that it will have no value in the future. Nonetheless, he also noted that on the flip side, there is a 20 to 50 percent chance that it will increase in value.
"Probability weighted, it's good," he told CNBC.
Thiel's investments suggest he may be even more bullish on bitcoin than he lets on. As previously reported by CoinDesk in January, Founders Fund, of which Thiel is the co-founder, recently purchased between $15 million to $20 million worth of bitcoin across several of its funds.
He has also publicly stated that he believes critics are "underestimating" the cryptocurrency.
~ By coindesk.com~
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