Bitcoin a “financial weapon” for the Chinese? What Peter Thiel really wanted to say

Peter Thiel criticizes the US administration’s passive attitude towards Bitcoin. Many people derive a critical stance on the part of the billionaire towards BTC. The opposite is the case.

Peter Thiel was born in Frankfurt, is a serial entrepreneur, billionaire and has been a bitcoiner for some time. The entrepreneur, who founded PayPal with Elon Musk at the time, has already made a name for himself in crypto circles. Recently, Thiel has been rather cautious about crypto currency No. 1 towards members of the Richard Nixon Foundation.

Although I’m also a Bitcoin maximalist, I wonder if BTC can also be seen as a financial weapon against the US. Bitcoin threatens fiat money in general and the US dollar in particular.

Peter Thiel

The statements can be interpreted as a warning – but more in the direction of the US administration to finally take Bitcoin seriously. According to the content of Thiel’s statements, BTC China plays into the hands, as the digital gold calls into question the supremacy of the US dollar as a world reserve currency.

As later also Podcaster Pomp opposite CNBC made clear, Thiel’s statement was by no means critical of Bitcoin. Rather, the investor has emphasized that Bitcoin is an elephant in the room, to which all states have to position themselves for better or worse.

What we need to understand is that Bitcoin is an open protocol, just like the internet. Just because Thiel emphasizes that other countries are making use of this technology doesn’t mean that he is taking an anti-Bitcoin stance. What Thiel is actually saying is that the US should try to become a leading power in the crypto sector as well.

Anthony Pompliano

As Pomp clarifies in the same interview, one possible way to get the crypto industry in the US would be to incentivize mining. A large part of the hash rate is currently in China; According to Pomp, this should change as soon as possible in order to bring the balance of power back into balance. Politicians like Miami’s Mayor Suarez are already actively working to build the bitcoin industry in the US.

We see states like Kentucky giving tax incentives to mining. Companies like Great American Mining also try to mine excess oil and gas instead of burning it. Also, there are a number of politicians who are pro-BTC. The best we can do is promote the US bitcoin industry.

Bloomberg sees the Bitcoin wave rolling in

Bullish news is also from Bloomberg. The business intelligence service has taken a detailed look at Bitcoin’s behavior – and paints a bullish picture.

“The technical outlook for BTC in 2021 remains strongly upward if the patterns of the past repeat themselves,” it says for example.

Bitcoin is on track to hit levels similar to roughly 55x spikes in 2013 and 15x spikes in 2017. If growth continues as it has in the past, BTC would be closer to $ 400,000 in 2021.

In the positive overall market situation, Tesla is also playing a major role. “The world’s largest automaker by market capitalization – Tesla – is investing part of its assets in Bitcoin, which could indicate a tipping point in favor of cryptocurrency,” the report said.