In a moment of introspection about the crypto landscape, Peter Thiel, co-founder of PayPal and an early supporter of Bitcoin, recently expressed his reservations about the future value of the cryptocurrency. In an interview given during the Aspen Ideas Festival and broadcast by CNBC on June 28, Thiel reflected on the role of Bitcoin in the vision of a decentralized future, questioning whether cryptocurrency is still an effective vehicle for this ideal.

During the event, Thiel shared his observations on cypherpunk and crypto-anarchist ideals, questioning Bitcoin’s effectiveness in adhering to these principles. “O [BTC] “Does it really work that way? Or has the thread somehow gotten lost?” Thiel asked, citing comments from FBI agents who have revealed that they prefer criminals to use Bitcoin over hundred-dollar bills, suggesting that the cryptocurrency may not be fulfilling its original purpose as effectively as anticipated.

The discussion deepened when Thiel addressed his own investment stance on Bitcoin, which he describes as modest. While he still sees potential for some upside, he tempers expectations for significant growth.

“I’m not sure if [BTC] “It’s going to go up so dramatically from here. We have the addition of the ETF, and I don’t know who else is buying quickly from here. I still have a small position, it could probably still go up a little bit, but it’s going to be a volatile and bumpy ride,” Thiel explained.

In addition to his thoughts on Bitcoin’s future performance, Thiel expressed a duality in his outlook, anchored in his belief in a decentralized and ideological future that he says would be ideal. However, he admits to being less convinced that Bitcoin is the perfect vehicle for this transformation.

Finally, Thiel touched on a critical point regarding the possible co-option of Bitcoin by traditional financial forces, suggesting that this could further divert the cryptocurrency from its original ideals. The interview reverberated throughout the Bitcoin community, generating intense discussions especially on platform X, where the interpretation of Thiel’s words generated significant debate.


The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.


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