Thiel: Bitcoin can match the value of all listed companies
Tech investor slams Buffett, Dimon and Fink
Thiel describes ESG as a ‘hate factory’ – comparison with the Chinese Communist Party
In his talk in Miami, tech investor Peter Thiel, who is known as a cryptocurrency advocate, first talked about the opportunities for Bitcoin. During “Bitcoin 2022”, he predicted huge increases in value for crypto fans – the price of Bitcoin could increase a hundredfold, according to Thiel. According to Thiel, other digital currencies such as ether or safe-haven gold do not compete for the oldest and largest cryptocurrency by market capitalization – even though gold is worth more than twelve trillion dollars. compared to Bitcoin’s market capitalization of over 800 billion. dollars. If the American billionaire has his way, the value of Bitcoin will eventually catch up with the value of all listed companies, especially in times of high inflation and increasing regulation. In his presentation, Thiel put that at $115 trillion right now.
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Next, the billionaire attacked investment legend Warren Buffett and other crypto and bitcoin critics.
Thiel: “Enemy list” tries to stop Bitcoin
In his speech, Thiel cited an “enemies list” of people trying to stop Bitcoin as the reason why Bitcoin isn’t already worth ten or a hundred times as much. And so the PayPal founder and Trump supporter took the keynote against bitcoin critics like Berkshire Hathaway CEO Warren Buffett. He flashed a portrait of Buffett with the quotes “rat death” and “I don’t own one and never will.” He was referring to when Buffett dismissed the oldest and best-known cryptocurrency with these words. Thiel explained in his speech that Buffett, “the sociopathic grandfather of Omaha,” as he calls him, tops people’s “enemies list,” making Bitcoin “enemy #1.” .
JPMorgan CEO Jamie Dimon and BlackRock CEO Larry Fink were also not spared. Thiel presented photos of the two CFOs and their comments on Bitcoin. Of JPMorgan CEO Dimon, Thiel said his views were part of the “bias of New York bankers.” “If you decide not to invest in Bitcoin, it’s a deeply political decision,” Thiel said, and that needs to be changed. He added that there are also investors who tout blockchain, the technology behind cryptocurrency, but question Bitcoin and its legitimacy.
According to Thiel, bitcoin has acted like a canary in a mine, warning us of what’s to come, like inflation, over the past two years. “It tells us that the central banks are bankrupt, that we are at the end of the fiat money regime,” Thiel said. He explained that central bankers, people like Fed Chairman Jerome Powell, should be “tremendously grateful” for Bitcoin because it’s “the last warning they’ll ever get.” “They decided to ignore it and they will have to live with the consequences for years to come,” Thiel said.
Thiel calls ESG the “real enemy”
Thiel was also upset with the current sustainability trend. “ESG is the real enemy,” Thiel said in his speech. The tech investor explained that ESG is a “hate factory” to keep bitcoin’s value down and that its environmental, social and governance goals are all about exerting even more control. Thiel even compared the ESG to the Chinese Communist Party (CCP) – anyone who sees the ESG should think of the CCP, Thiel explained.
Ultimately, according to Thiel, every company, especially after an IPO, is in principle under state control, whereas Bitcoin is not a company, has no board of directors and one does not not know who Satoshi Nakamoto is – in his opinion, therefore, cryptocurrency should be free.
At the end of his presentation, Thiel presented a collage of portraits of Buffett, Fink and Dimon, photos of members of the Chinese government and the word “gerontocracy”. Thiel said there was a “financial gerontocracy” in power in the country and opposed the “revolutionary youth” and called, “We have to get out of this conference and take over the world!”
While a spokesperson for JPMorgan declined to comment on the matter and a representative for Berkshire Hathaway did not immediately respond to a request for comment, according to CNBC, a spokesperson for BlackRock cited Larry’s comments. Fink in a letter to shareholders. There, the CEO of BlackRock wrote that Russia’s invasion of Ukraine could accelerate the adoption of digital currencies, stating that “a carefully designed global digital payments system [] improve the processing of international transactions while reducing the risk of money laundering and corruption”.
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