Peter Thiel, co-founder of PayPal regrets not having invested more in Bitcoin, as BTC hits new all-time highs, as reported by Bloomberg on Wednesday.
The Billionaire venture capitalist was invited to a Miami interview hosted by the Lincoln Network, where he discussed central bank, artificial intelligence as well as for cryptocurrencies.
The crypto advocate suggests that investors should simply buy Bitcoin, and according to him he should have bought way more, as he worries that he has ‘underinvested’ in it.
It seems that his regret stands in not willing to risk more and as a result reap bigger benefits. The Bitcoin market is almost going mainstream, however, the digital asset is still highly volatile and many answers are left unanswered. Perhaps, after all the secret is not entirely out, adds the PayPal billionaire.
While the crypto sector keeps witnessing massive success, there is something that gets negatively affected by this and those are global central banks.
According to Thiel, as cryptocurrency prices skyrocket, this only translates to the possibility of banks going bankrupt. That’s definitely not good news for them.
Artificial Intelligence was something that the billionaire criticized, comparing them to communist tools. Moreover, he says that AI, together with any sort of low technology or surveillance form is an enemy to crypto’s decentralization. AI is the biggest threat to the world, with high possibilities of harming it.
While not an ally to AI, Thiel is surely a Bitcoin advocate and has been so for a long time. Bitcoins are significant to the point that they will save the world, declares the venture capitalist. Earlier this year, he thought that China will be using Bitcoin as a financial weapon against the US.
The company that he cofounded has embraced crypto last year. Last October, the company announced its plans to allow users to buy and sell cryptocurrencies such as Bitcoin. Since then, PayPal has launched cryptocurrency services in the United States and the United Kingdom.