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Peter Thiel is not a fan of Ethereum, and he is also not a fan of a few prominent personalities in finance. He made his "enemies list" public during today's Bitcoin 2022 conference in Miami.
Thiel, a co-founder of PayPal, referred to Warren Buffett, Chairman, and CEO of Berkshire Hathaway, as "a psychotic grandfather from Omaha." JP Morgan Chairman Jamie Dimon and BlackRock CEO Larry Fink have been added to Thiel's list of "exposable" opponents.
Thiel accused the three banking moguls of fostering a system that holds institutional and political prejudices against Bitcoin.
“The central banks are bankrupt. We are at the end of the fiat money regime,” Thiel stated. Thiel believes Bitcoin is the apex of the alternative financial system.
“Bitcoin is not Ethereum as a payment system. It’s not an e-gold, it’s something like the S&P 500, it’s the stock market as a whole,” he explained. Although Ethereum is the second-most valued cryptocurrency by market capitalization, Thiel doubts its long-term viability.
“Bitcoin and Ethereum are these two polar opposite ends of the spectrum,” he explained, referring to Bitcoin as a “low velocity, high value” asset, and Ethereum as a “high velocity” asset. Thiel believes that Ethereum’s gas expenses “must decrease,” adding that “it must become frictionless to operate.”
The PayPal executive did not spare the tech industry in his address, possibly referring to what he views as liberal-leaning businesses like Meta that have been subject to government regulation. “Woke companies are sort of quasi-controlled by the government so that Bitcoin never will be,” Thiel explained.
While Thiel did not name names, he labeled any ESG firm—companies and investment organizations that prioritize environmental and social stewardship over profit maximization—a “hate factory” for Bitcoin.”When you’re thinking ESG, you should be thinking CCP,” Thiel declared, referring to China’s ruling communist party.
Thiel has previously voiced worry about the Chinese government. He once stated that Bitcoin might be used as a “Chinese financial weapon” and warned Americans to be aware of China’s efforts to build its digital currency.