The high Bitcoin price is living proof of the rise in US inflation, according to Peter Thiel, PayPal co-founder and venture capitalist. So read more on our latest bitcoin news today.
Speaking over the weekend of the Conservative conference, he noted that the high Bitcoin price suggests the economy is facing real inflation. The investor added that he regrets not buying more BTC sooner:
“You know, Bitcoin [at] $ 60,000 – I’m not sure whether to be brave to buy [at that price]. But it certainly tells us that we are in a moment of crisis. “
As mentioned earlier, the strategists at investment bank JPMorgan say BTC looks strong at the moment, but argue that there are some concerns about higher inflation as the launch of an exchange-traded Bitcoin fund drives the BTC price up. Thiel meanwhile aimed at the US Federal Reserve to let inflation rise to this level. He claimed the recent rallies were not temporary and said the Fed had failed to tackle inflation and failed to see its seriousness. Thiel added that the Fed is showing signs of closing and is not addressing the growing problem.
Peter Thiel describes himself as a crypto advocate and bitcoin maximalist ahead of China’s crypto breakthrough in September and warned Washington that BTC could become China’s financial weapon. Thiel isn’t really talking about BTC, but about China’s plan to create a digital yuan. Moderator Hugh Hewitt wants to know to what extent the digital yuan poses a threat to the dollar and how it will dominate world markets. According to Thiel, the real concern is with BTC, as it can act as a functional reserve currency while the dollar is less dominant, which means US foreign and monetary policy is also less dominant. He says:
“It was the canary in the coal mine. It’s the most honest market we have in the country and that tells us that […] The regime threatens to explode. “
Currently, BTC is trading at $ 62,246, up 2% in a day and 29% in a month.
DC Forecasts is a leader in many crypto news categories, always striving for the highest journalistic standards and adhering to strict editorial guidelines. If you would like to share your expertise or contribute to our news page, please contact us at [email protected]
.
.
Key Points: Bitcoin Spot ETF Inflows totaled $449M, led by BlackRock’s $1.45B contribution. Ethereum Spot…
Discover the Best New Meme Coins to Join for 2025. BTFD Coin's price rollback offers…
Discover how DTX Exchange's historic achievement of 100,000 transactions per second on a layer-1 blockchain…
VanEck suggests the U.S. could reduce its national debt by 35% by 2050 through a…
President-elect Donald Trump named Bo Hines as the executive director of the presidential crypto council.
Explore the best new meme coins with 1000X potential. Learn how BTFD Coin leads with…
This website uses cookies.