Former PayPal CEO Peter Thiel expressed skepticism about the potential for a significant increase in Bitcoin prices from current levels.
The billionaire still holds Bitcoin, albeit “not as much as I would have liked.” With Bitcoin now having an ETF, he is unsure where the next wave of buyers will come from.
“I’m not sure the price will skyrocket from here. We’ve already issued an ETF, but I don’t know who else will buy it,” Thiel, founder of Founders Fund, told CNBC in an interview on March 28.
Prices may still rise somewhat, but it will be a volatile and bumpy process.
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Previously,
mentioned
, that is ”
Underinvestment
In October 2021, Bitcoin prices surged to a historic high of $69,000.
However, Thiel’s Founders Fund has an outstanding performance record in the following areas:
Bitcoin
First invested in cryptocurrency in 2014 and earned $202 billion before the 2018 market crash.
Subsequently, the fund purchased $30 billion in BTC when prices were below $100 in 2023.
I am less certain about the ideological foundation vision of Bitcoin——a crazy, cryptographic anarchistic, free and decentralized movement.
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”
That’s why I think it’s great
,” Thiel reviewed his initial introduction to Bitcoin.
However, he now believes Bitcoin is “not the case.”
When FBI personnel tell me they would rather criminals use Bitcoin than $100 bills, it suggests its role may not be as expected.
Bitcoin was designed as a public, decentralized ledger, and its transactions have never been as untraceable as those transactions.
Monero
And other privacy-oriented networks.
As of the writing of this article, the Bitcoin trading price is $61,034, down 24% in the past hour.
