The billionaire and co-founder of PayPal said that Bitcoin is more suited to the role of the repository of values than the means of payment.
Peter Thiel told CNBC about his attitude to cryptocurrencies in general and to BTC in particular:
“It’s like gold ingots in a safe deposit that will not move anywhere. This is a kind of insurance in case the world collapses”.
The billionaire expressed his optimistic position about the future of Bitcoin, unlike the future of other currencies. According to him, the #1 cryptocurrency will hold its positions.
“There will be only one online equivalent of gold, and you will bet on the largest of the options.”
Nevertheless, Thiel did not express complete confidence in this. According to him, there is a 50-80% chance that cryptocurrency will not cost anything in the future, and, on the contrary, there is a 20-50% chance that the value of Bitcoin will grow.
Thiel’s investments show that he can be one of the whales on the market. In January, the Founders Fund, co-founded by Thiel, purchased Bitcoin for a total of $15-20 million from several funds.