Outspoken billionaire Peter Thiel said this week at at the National Conservatism Conference that the high price of bitcoin is an indicator of U.S. inflation, which has also recently touched a 13-year high.
“You know, $60,000 bitcoin, I’m not sure that one should aggressively buy,” Thiel said, according to Bloomberg.
“But surely what it is telling us is that we are having a crisis moment.”
These comments come a week after the tech visionary – who recently opined on the origins of bitcoin – offered an even more ominous projection:
“[Bitcoin]’s the canary in a coal mine. It’s the most honest market we have in the country and it’s telling us that this old regime is about to explode.”
Thiel also slammed The Fed, claiming that they were not acknowledging the seriousness of the problem, and mentioned that the prices were not coming down any time soon, adding that Powell and his pals are in a state of “epistemic closure,” meaning close-mindedness, and they were of the view that printing money to resolve market issues will not impact inflation.
Finally, Thiel reiterated the fact that he wished he had bought more bitcoin, adding now that he thinks inflation is here to stay; something that Goldman has recently noted as a driver of upside from crypto…
Which fits with a recent report from JPMorgan analysts who noted that “we believe the perception of bitcoin as a better inflation hedge than gold is the main reason for the current upswing, triggering a shift away from gold ETFs into bitcoin funds since September.”
by Tyler Durden
Join: 👉 https://t.me/acnewspatriots
The opinions expressed by contributors and/or content partners are their own and do not necessarily reflect the views of AC.NEWS
Disclaimer: This article may contain statements that reflect the opinion of the author. The contents of this article are of sole responsibility of the author(s). AC.News will not be responsible for any inaccurate or incorrect statement in this article www.ac.news websites contain copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available to our readers under the provisions of “fair use” in an effort to advance a better understanding of political, health, economic and social issues. The material on this site is distributed without profit to those who have expressed a prior interest in receiving it for research and educational purposes. If you wish to use copyrighted material for purposes other than “fair use” you must request permission from the copyright owner. Reprinting this article: Non-commercial use OK. If you wish to use copyrighted material for purposes other than “fair use” you must request permission from the copyright owner.
Disclaimer: The information and opinions shared are for informational purposes only including, but not limited to, text, graphics, images and other material are not intended as medical advice or instruction. Nothing mentioned is intended to be a substitute for professional medical advice, diagnosis or treatment.
Discussion about this post