Peter Thiel Calls Bitcoin ‘a Chinese Financial Weapon’ at Virtual Roundtable

‘Even though I’m a pro-crypto, pro-Bitcoin maximalist person, I do wonder whether if at this point Bitcoin should also be thought of in part as a Chinese financial weapon against the U.S.’

EXCERPT:

THIEL: "From China's point of view, they want to get — they don't like the U.S. having this reserve currency because it gives us a lot of leverage over Iranian oil supply chains and all sorts of things like that. They like — they don’t want the renminbi to become a reserve currency, because then you have to open your capital account and you have to do all sorts of things they really don’t want to do. I think the euro, you can think of is in part a Chinese weapon against the dollar. In last decade it hasn't quite worked out that way, but China would have liked to see two reserve currencies like the euro. And, even though I’m sort of a pro-crypto, pro-Bitcoin maximalist person, I do wonder whether at this point Bitcoin should also be thought in part of as a Chinese financial weapon against the U.S. where it threatens fiat money, but it especially threatens the U.S. dollar and China wants to do things to weaken it.”

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