Bitcoin would Be the ‘One Online Equivalent to Gold,’ says PayPal CEO
March 17, 2018 1:12 pm
Peter Thiel says Bitcoin would Be the ‘One Online Equivalent to Gold’
More relevant to gold, the billionaire co-founder of PayPal thinks that the cryptocurrency is designed to be a store of value instead of a means of payment.
Peter Thiel said to CNBC:
“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.”
“There will be one online equivalent to gold and the one you’d bet on would be the biggest.”
Despite his prediction, Thiel did not reveal complete confidence in bitcoin and considered that there would be 50 to 80 percent chance that it will have no value in the future. Anyway, he also perceived that on the flip side, there is a 20 to 50 percent chance that it will increase in value.
“Probability weighted, it’s good.”
Recently, In October, Thiel told that people are “underestimating” Bitcoin and he compared the cryptocurrency to gold in an interview in Saudi Arabia.
“If bitcoin ends up being the cyber equivalent of gold it has a great potential left,” and regarding other cryptocurrencies, he described, “I was skeptical of most of them.”