BREAKING NEWS! has been acquired by VC firm Morningstar Ventures. Read More

$57,764.47 0.22%
BTC · 5w

Peter Thiel says bitcoin at $60,000 is a sure sign the 'decrepit' political system is about to implode

Peter Thiel. Neilson Barnard/Getty Images for New York Times Thiel reportedly said bitcoin's price underscored his view that US politics are unsustainable. Thiel railed against Biden, the Obama administration, and central banks, The Information reported. Bitcoin's price surged Wednesday to a new high above $66,000.

The US political system is not sustainable, and the skyrocketing price of the decentralized cryptocurrency bitcoin underscores that point, the tech billionaire Peter Thiel said, according to a report from The Information.

"I don't know that you should put all your money into bitcoin at $60,000 a bitcoin right now," Thiel said at a Monday night gathering of the Federalist Society, a conservative law group.

"But surely the fact that it is at $60,000 is an extremely hopeful sign," he said. "It's the canary in the coal mine. It's the most honest market we have in the country, and it's telling us that this decrepit … regime is just about to blow up."

The venture capitalist made his comments before bitcoin blasted higher Wednesday to a record high of $66,812.68 on the back of Tuesday's trading debut of ProShares Bitcoin Strategy ETF, the first bitcoin-futures exchange-traded fund. The price of the most traded digital coin overtook the previous high of $64,804.72, which was logged in April, around the time when the crypto exchange Coinbase went public.

Thiel has made crypto-industry investments through venture-capital firms he's helped establish, including the Founders Fund. He is a backer of 1confirmation, along with Marc Andreessen and Mark Cuban.

Speaking at Monday's conference hosted by the Stanford Law School chapter of the Federalist Society, Thiel suggested eliminating environmental and immigration laws to balance the US government's budget, The Information said, adding that Thiel called President Joe Biden a "catastrophe."

He also spoke against "the Clinton-Obama retreads...

Continue on
Recent news
BTC +0.22% · · 3h

Daily Bitcoin News November 28th, 2021

Recap of everything Bitcoin for Nov, 28th 2021► President Nayib Bukele has bought the dip once again - acquiring 100 more Bitcoins! El Salvador now owns 1,10...
BTC +0.22% · · 8h

Bitcoin will usher in a massive economic boom

1/ "Nobel prize" economists think that they can centrally plan money to manufacture economic growth.I'd like to make the argument that they are potentially very wrong, and that #Bitcoin will usher in ...
BTC +0.22% · · 20h

Actually Useful Analysis - Onchain Data

Bitcoin price tested the Short-Term Holder Cost Basis EXACTLY as we predicted, which means the BULL MARKET is STILL ON TRACK! I also look at Futures to show ...