For Thiel, the high demand for Bitcoin per US dollars responds to the inflationary problems facing the US economy.
The co-founder of PayPal and Palantir Technologies, Peter Thiel, assured that behind the strong increase capitalized by Bitcoin these last weeks could be the strong inflationary problems that loom for the US economy.
Price of Bitcoin and signs about the economy
Thiel’s statements came into play during the National Conservatism Conference (NatCon) held yesterday in Florida, where the billionaire stressed that the high price of Bitcoin it could be translated as a sign that the US economy is facing strong inflationary levels, mainly due to the increase in the supply of digital currency in dollars.
In this regard, Thiel commented:
“You know, $ 60,000 per Bitcoin, I’m not sure that one should go aggressively buying … surely what he is telling us is that we are having a moment of crisis.”
The billionaire investor’s comments come in almost two weeks after he Bitcoin capitalize prices above USD $ 60,000 for the first time after the fall seen during the second quarter of 2021. Let us bear in mind that the US government is also currently going through a rather complex time in relation to its finances, precisely due to the ceilings registered in debt and the accelerated printing of dollars seen during the first year of the pandemic, precisely to finance programs to support the Americans most affected by the crisis.
Calculations presented by analysts indicate that the inflation registered by the United States grew at a very fast rate during this period than in the last 30 years. For his part, the president of the FED, Jerome Powell, assured that interest rates would still remain close to zero, but that they would gradually reduce the buyback of bonds.
Sorry not to buy Bitcoin
As for Thiel, his statements come after the billionaire admitted to regret not having bought more Bitcoin before these reached USD $ 60,000 per unit.
As such, Bitcoin experienced its most notable rise in recent times after the US Securities and Exchange Commission approve the first ETF based on digital currency futures a couple of weeks ago. Although it is not an instrument fully linked to cryptocurrency, it constitutes a fully regulated first approach for institutional investors interested in BTC.
Let us bear in mind that Thiel is no stranger to digital currencies and technology Blockchain, at least in terms of investment, since it has capital invested in other projects such as BitDAO and EOS.
Source: CryptoBriefing, File
Version by Angel Di Matteo / DailyBitcoin
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