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“Bitcoin to be one online equivalent to Gold” Says Paypal Co-Founder Peter Thiel

Peter Andreas Thiel is an American entrepreneur, Co-Founder of Paypal, Venture Capitalist, philanthropist, political activist, and author, has been majorly endorsing bitcoin despite the bitcoin being in news for both right and wrong reasons. Thiel said, the Bitcoin, the online  currency is equivalent to digital gold.

And much like gold, Thiel gives his strong opinion that the cryptocurrency is destined to be a store of value rather than a means of payment.

He said,

“It’s like bars of gold in a vault that never move. It’s sort of hedge of sorts against the whole world falling apart.”

He also subtly mentioned of the superiority that the Bitcoin has over the several other cryptocurrencies in the market, and will stay on the top in the market even in the coming times.

However, Thiel did not depict strong confidence in Bitcoin, and speculated that there is a 50 to 80 percent chance that it will have no value in the future. On the other hand, hee also noted  there is a 20 to 50 percent chance that it will increase in value.

Reported in January last, Founders Fund (also co-founded by Thiel) made an extravagant purchase between $15 million to $20 million worth of Bitcoins across several of its funds. Thus, this shows how a successful entrepreneur sees the future of bitcoin in the coming times.

 

KryptoMoney.com publishes latest news and updates about Bitcoin, Blockchain Technology ,Cryptocurrencies and upcoming ICO’s.

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