“I underestimated Bitcoin,” says PayPal co-founder


It’s hard not to have regrets when you missed the opportunity to buy Bitcoin when there was still time. Peter Thiel, the co-founder of PayPal admitted in a recent interview that he realized far too late the potential of cryptocurrency on the sidelines of an event in Florida, organized by the Lincoln Network – an NGO close to the ideas of the Republican Party.

Peter Thiel explains that he hesitated for a long time to buy more of this cryptocurrency: “The secret was already known to all […] you are just supposed to buy bitcoin ”, says Peter Thiel. And to add: “I have the feeling that I haven’t invested enough”. It must be said that the figures speak for themselves.

Peter Thiel admits he lacked bitcoin flair

In an economic period complicated by the global COVID-19 crisis, the problems of silicon supply, or the energy transition, cryptocurrencies, if they remain risky investments, display insolent prices. Bitcoin has grown 400% in just 12 months.

The cryptocurrency’s total capitalization is US $ 1.2 trillion, to date, according to Coinbase. And everything indicates that this threshold will be quickly exceeded. Peter Thiel thus reveals that he underestimated the long-term potential of Bitcoin. While adding that this extraordinary popularity is “proof” that individuals no longer trust centralized financial institutions.

And Peter Thiel to conclude: “Bitcoin at $ 66,000. Will it go up? May be. But what this tells us above all is that we are at a time of total bankruptcy of central banks ”. Peter Thiel’s statements may surprise those who have long followed the character’s strong words.

Until 2017, he said he was indeed very skeptical about the success of cryptocurrency. Before completely changing your mind. In 2017, he even claims that Bitcoin will be a digital equivalent of gold. Then Peter Thiel finally decided to invest by founding a venture capitalist which now holds hundreds of millions of dollars in Bitcoin.

Also Read – Richest Bitcoin Company Investing Again and Again

Still, the fortune of Peter Thiel is far from being what it could have been if the entrepreneur had had a little more flair. According to Forbes, the fortune of Peter Thiel is estimated to date at 3.9 billion dollars, “only”. To give you a point of comparison, that of Elon Musk (who had founded X.com acquired by what will later become PayPal) is currently approaching $ 300 billion.

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