Paypal Cofounder Peter Thiel Thinks China Is Using Bitcoin as Financial Weapo...

Paypal Cofounder Peter Thiel Thinks China Is Using Bitcoin as Financial Weapo...

According to Paypal cofounder Peter Thiel, the Chinese government, which detests the U.S. dollar’s reserve currency status, could be using bitcoin as a financial weapon against the U.S. While he concedes that China has no intentions of making the yuan renminbi a reserve currency, Thiel still thinks the Asian country may have longed bitcoin because it weakens the dollar’s influence. Reserve Currencies Speaking at the recent Richard Nixon Foundation seminar, Thiel also suggested that China ideally prefers to have two reserve currencies that counter the dollar. He says the Asian....


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