PayPal co-founder spoke about those who hinder the development of bitcoin

Peter Thiel considers Berkshire Hathaway owner Warren Buffett and several other CEOs of large companies to be “bitcoin’s main enemies” who hinder the development of the crypto coin. The co-founder of PayPal made such a statement during the Bitcoin 2022 conference.

The entrepreneur called Buffett “an old psychopath from Omaha” and “bitcoin’s №1 enemy.” The owner of Berkshire Hathaway has long established himself as a bitter enemy of BTC. Previously, he expressed the opinion that charlatans and criminals prefer the main crypto coin.

Peter Thiel also called BlackRock CEO Larry Fink and JPMorgan Chase CEO Jamie Dimon “gerontocrats” who openly oppose the introduction of digital assets. The co-founder of PayPal is convinced that the negative attitude of these people towards bitcoin is intentional.

Thiel believes that the financial moguls are in a conspiracy and are involved in creating a system that lobbies for institutional and political bias against BTC. According to him, Buffett, Fink and Dimon want to convince ordinary investors not to invest in digital assets.

In addition, Thiel said that in order for bitcoin to reach the level of $4.3 million, large businesses and financial institutions must introduce the cryptocoin. But, he is sure, the “enemies” of bitcoin have enough power to resist changes in the global financial system.

“Central banks have gone bankrupt. The end of the paper money regime has come. Ownership of shares is also partly related to the state. Even those companies that recognize the potential of bitcoin are controlled by the state, which bitcoin will never have. Bitcoin is the pinnacle of the alternative financial system. Bitcoin is not a payment system or digital gold. It’s more like the S&P 500 or the stock market in general,” Thiel said.

At the same conference, Kevin O’Leary, a well-known Canadian entrepreneur from Canada, expressed the opinion that bitcoin mining could become a prerequisite for the development of energy innovations and even save the world.

Now many companies are looking for reliable sources of energy, so the need for hydro and nuclear energy will be an incentive for innovation in this area. As an example, O’Leary cited miners from Costa Rica reopening hydroelectric power plants to provide a cheaper and more environmentally friendly source of energy. Analysts at the University of Cambridge have calculated that about 40% of cryptocurrency miners prefer to use the energy of water, sun, wind and atom.



Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store