PayPal founder warns of ‘bumpy ride,’ questions Bitcoin value proposition
In a surprising interview, billionaire, old-time Bitcoin (BTC) supporter and PayPal co- founder Peter Thiel question ed Bitcoin’s value pro position . Despite holding a “small position ,” Thiel warns of a “volatile, bumpy ride” moving forward, with no expected “dramatic” price increases. The interview was conducted for CNBC during the Aspen Ideas Festival and aired on June 28. In a two-minute clip, Peter Thiel starts question ing whether Bitcoin accomplishes its foundational vision, which is what interested him. Notably, Thiel mentioned the cypherpunk, crypto-anarchist, libertarian, and “anti-centralized government” ideals as a core for Bitcoin’s value proposition. However, he immediately raised the question of whether BTC really works the way it was supposed to. Picks for you ...