"Peter Thiel, billionaire venture capitalist, and PayPal co-founder advised the U.S. government to consider tighter regulations on cryptocurrencies.
Thiel, speaking at the Richard-Nixon-Foundation, made these comments after he expressing worry the Chinese are using bitcoin to corrode the U.S. financial system." And therefore attacking the Dollar as the world reserve currency.
"This comes as China recently trialed its central bank-issued digital currency (CBDC). According to Thiel, this “internal stablecoin” will amount to nothing other than, “some sort of totalitarian measuring device”. However, he did urge U.S. policymakers to consider these crypto-forward moves from a geopolitical point of view."
"Thiel explained that China isn't fond of the fact that the U.S. dollar is the world's major reserve currency because it gives the U.S. global economic "leverage", and he thinks Beijing may view Bitcoin as a tool that could chip away at the dollar's might. "I do wonder whether at this point, [if] Bitcoin should also be thought [of] in part as a Chinese financial weapon against the U.S.," he said, video from the event obtained by Bloomberg reveals. "It threatens fiat money, but it especially threatens the U.S. dollar ... perhaps from a geopolitical perspective, the U.S. should be asking some tougher questions about exactly how that works."
The US-Dollar is currently the world reserve currency. Just like we have seen china prop up the €uro in the last decade to weaken the strength of the american dollar. It is not out of the question for china to like bitcoin, because it does the exact same thing
So this is what the media tells you all over the globe. But did he really meant the US needs a tighter Bitcoin regulation?
Personally, i don`t think so at all, because what he also said in the interview was:
“.... I'm a pro-crypto, pro-Bitcoin maximalist person... " says @Paypal co-founder Peter Thiel.
and
"More than being “pro-bitcoin” and owning the asset himself, Peter Thiel’s foundation was key to the creation of Ethereum when Vitalik Buterin drew a $100,000 grant to begin working on the blockchain."
Conclusion:
So, at no point does Thiel suggest regulation Bitcoin in the US. To a greater degree he is actually suggesting the USA to consider of stacking Bitcoins as a defensive move against China`s attempts at displacing US Dominance.
And therefore kind of like the opposite of what the media is telling in disguised words.
I personally think this is HUGE!
This is very bullish for bitcoin.
Very.
Let me know what you think!
Whising you a nice and healthy day.
TM
