PayPal Co-Founder Says Bitcoin Price Points To Crisis In The Economy
PayPal co-founder Peter Thiel has said that the bitcoin price points to an ongoing crisis in the economy. Thiel expressed that the price of bitcoin hitting $60,000 is an indicator of this crisis. Mainly, Thiel says, this has been due to the staggering inflation rates that the country has been experiencing following the pandemic. The Fed had been accused of printing money recklessly during this time without measures in place to affect the inflation it triggered and as such, has pushed investors to more unconventional investment options to hedge for this inflation. Related Reading |....
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This past Wednesday, famed venture capitalist and founder of PayPal Peter Thiel spoke to the Booth School of Business in Illinois, Chicago. In his talk on entrepreneurship, Bitcoin, and business practices, Thiel admitted that he felt that Bitcoin is a product which was founded on the same set of ideas as PayPal; however, the two have clearly developed in completely opposite directions. Coming from the founder of PayPal, this was more than a tacit admission that each business idea has multiple paths to different types of success. Thiel continued: Bitcoin is the opposite of PayPal, in the....