Peter Thiel, co-founder of PayPal, says he ‘underinvested’ in bitcoin

As Bitcoin (BTC) reached a new all-time high above $67,000, PayPal co-founder and billionaire venture capitalist Peter Thiel said that he should have purchased more of the cryptocurrency.

Thiel discussed cryptocurrency, central banks, and artificial intelligence during an interview with policy think tank Lincoln Network in Miami on Wednesday, Bloomberg reported.

“You’re supposed to simply buy Bitcoin,” Thiel explained, adding, “I feel as though I’ve been underinvested in it.”

Open secret

The technology investor stated that his sole reservation about purchasing Bitcoin was that the investment’s “secret” was already well known.

“I believe the answers are still a long way off. Perhaps it is still sufficiently concealed,” he continued.

Thiel believes that the recent Bitcoin rise is a major source of concern for the world’s central banks.

The cryptocurrency’s run to fresh all-time highs “certainly indicates that we are approaching a point of no return for central banks,” Thiel remarked.

Thiel also slammed artificial intelligence as an adversary of crypto’s decentralization drive. “AI, particularly in its low-tech surveillance version, is fundamentally communist,” he claimed, adding that AI is a technology that is “on the verge of destroying the planet.”

Vocal supporter of bitcoin

Thiel is one of the most outspoken proponents of Bitcoin, who claimed that the cryptocurrency achieved currency status in 2014.

Additionally, the venture capitalist is well-known for referring to Bitcoin as “a hedge against the entire world collapsing.”

Earlier this year, the venture investor cautioned that China’s central government may be backing Bitcoin in order to undercut the United States’ diplomatic and monetary policies.

PayPal, which Thiel co-founded in 1998, has been diversifying its revenue streams in the last year.

Last October, the company disclosed its intention to introduce the option to buy and trade cryptocurrencies such as Bitcoin.

PayPal has since expanded its cryptocurrency offerings in the U.S. and the United Kingdom.

 

Image courtesy of Cointelegraph News/YouTube

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