Peter Thiel Says China May Use BTC as a Financial Weapon

by in Cryptocurrency News

Peter Thiel BTC China US

German-American businessman, co-founder of Pay Pal, Peter Thiel thinks it is quite possible that China uses BTC as an economic instrument against the US.

Related: GrayScale Intends to Change Its BTC Trust Into an ETF

Thiel expressed this opinion during an online seminar set by Richard Nixon Foundation on April 6. Ex-Secretary of State Mike Pompeo and previous National Security Advisor Robert O’Brien were the co-chairs of the meeting related to technology, China, and Silicon Valley.

During the discussion, Pay Pal CEO said despite his being a big supporter of the crypto industry, he wonders if China views the coin as a weapon.

Thiel mentioned that BTC is a threat to fiat, particularly for the US dollar and its role as a reserve currency. He added in the case of China's long Bitcoin, the US will need to ask about its work details.

Peter Thiel is a billionaire investor who backed companies like Facebook, SpaceX, Airbnb, and more. He also supported various crypto projects. Previously Thiel said BTC is digital gold.