Peter Thiel doesn’t care for Ethereum, and he doesn’t care much for a few key figures in finance, either. He shared his “enemies list” publicly in a speech at Bitcoin 2022 in Miami today.

Thiel—co-founder of PayPal—called Berkshire Hathaway Chairman and CEO Warren Buffett “a sociopathic grandpa from Omaha.” JP Morgan Chairman Jamie Dimon and BlackRock CEO Larry Fink joined Buffett on Thiel’s list of enemies he wants to “expose.” 

Taking a break from throwing cash into the crowd, Thiel accused the three finance moguls of facilitating a system that harbors institutional and political biases against Bitcoin.

“The central banks are bankrupt. We are at the end of the fiat money regime,” Thiel declared. Thiel believes Bitcoin is the ultimate alternative to the entire traditional financial system.

“Bitcoin is not Ethereum as a payment system, it’s not an e-gold, it’s something like the S&P 500, it’s the stock market as a whole,” he said.

Although Ethereum is the second-most-valuable cryptocurrency by market cap, Thiel said he isn’t sure it can maintain its status over the long term.

“Bitcoin and Ethereum are these two extreme opposite ends of the spectrum,” he said, calling Bitcoin “low velocity, high value” and Ethereum “high velocity.” For Thiel, Ethereum’s gas fees “have to go down,” adding that “it has to become completely frictionless for it to work.” 

In his speech, the PayPal exec didn’t spare the tech industry, either, with a possible nod to what he sees as liberal-leaning companies such as Meta that have…


Source link

Leave a Reply

Your email address will not be published.

Fill out this field
Fill out this field
Please enter a valid email address.
You need to agree with the terms to proceed