peter thiel bitcoin

accuracy or timeliness of the information contained herein. Investing in cryptocurrencies and Initial Coin Offerings ICOs is highly risky and speculative, and this article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies or ICOs. Peter Thiel with Paypal, lets be honest, failed to turn PayPal in to a new world currency. Bitcoin dominated more than 42 percent of total market capitalization among cryptocurrencies Thursday, while ethereum accounted for about 19 percent, according to Coinmarketcap. Thiel's optimism did not extend to all digital assets.

peter thiel bitcoin

peter thiel bitcoin

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Its probably too volatile for any sane person to invest in post 2014 prices. Thiel believes that bitcoin is significantly more likely to fail than it is to continue to climb higher in price. Peter Thiels ties to Facebook and Paypal makes him an important figure in the history of cryptocurrencies, and whether his bet on Bitcoin rises or falters doesnt really matter as a footnote in history. "It's like bars of gold in a vault that never move, and it's a sort of hedge of sorts against the whole world going falling apart.". Bitcoin rose 9 percent in the 24 hours after the report, according to data from CoinDesk. However increasingly, Silicon Valley types are buying into crypto investments as a sort of a hedge against the whole world falling apart, the exact" by Peter Thiel on March 15, 2018. Consensus among Silicon Valley players appears to be that Bitcoin could become a long-term storage asset rather than a go to-asset. "There will be one online equivalent to gold, and the one you'd bet on would be the biggest.".

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