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Peter Thiel: Bitcoin a Chinese Financial Weapon against the US

Peter Thiel urged the U.S. government to consider tighter regulations on cryptocurrencies during an appearance at a virtual event held for members of the Richard Nixon Foundation.

He described himself as a “pro-crypto, pro-Bitcoin maximalist,” but warned that Bitcoin “threatens the U.S. dollar.”

“I do wonder whether at this point, Bitcoin should also be thought of in part as a Chinese financial weapon against the U.S.,” Thiel said. “It threatens fiat money, but it especially threatens the U.S. dollar. If China’s long Bitcoin, perhaps from a geopolitical perspective, the U.S. should be asking some tougher questions about exactly how that works.”

[Bloomberg](https://webcache.googleusercontent.com/search?q=cache:HzeZ5kXrhpcJ:https://www.bloomberg.com/news/articles/2021-04-07/peter-thiel-calls-bitcoin-a-chinese-financial-weapon-at-virtual-roundtable+&cd=3&hl=en&ct=clnk&gl=en)



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4 Comments

  1. He’s not wrong. Bitcoin adoption gives countries (and people) a way to sidestep the petrodollar hegemony. Just because a bad actor like China can use it doesn’t make the thing itself bad. Instead the US should seek a way to make its foreign policy robust to the new reality.

  2. If you actually want to take down the dollar, bitcoin is the right way to do it. At this point everyone can see it. This guy just put in words that get the attention of American Politicians.

    It’s a win-win scenario for the world. America can stop being the policeman of the world and the world can prosper with out being tied down to centralized thinking.

  3. He’s 100% correct, and I applaud it.

    Yes, if a weapon that can be used by EVERYONE is also a weapon against the dollar hegemony, then sure that’s logically a correct statement. But it’s not only “Chinese Financial Weapon”. It’s everyone’s weapon.

    So he’s right. Why is this controversial? I mean aside from the superficial xenophobic framing intended in the title?

    Why must we be angry when someone we don’t like gets a benefit from bitcoin? We all benefit from bitcoin. And as long as good forces outnumber bad forces, then you have nothing to worry about when the playing field is equal.

    Bitcoiners are as anti-china as they are anti-america as they are anti-govt. It’s all fine. Nationalist tribalism is really dumb. Not as dumb as globalism, but pretty dumb.

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