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.
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.