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Peter Thiel says people underestimate Bitcoin

  • 26-10-2017 10:19pm
    #1
    Registered Users Posts: 60 ✭✭✭ covfefe




Comments

  • Registered Users Posts: 1,223 pro_gnostic_8


    This is a significant endorsement from an influential man in the world of commerce, tech, and politics.
    Peter Thiel, -- Donald Trump's tech-advisor and on the Steering Committee of the Bilderberg Group, and with his own stable of Fintech companies -- is a "player". This man has a history of picking winners.
    All good !


  • Registered Users Posts: 582 ✭✭✭ JaCrispy




  • Registered Users Posts: 68,333 ✭✭✭✭ seamus


    How much Bitcoin is Thiel holding onto? Don't underestimate the fact that most bitcoin is being held for speculation, so it's always in a speculator's interests to talk up their asset.


  • Registered Users Posts: 60 ✭✭✭ covfefe


    JaCrispy wrote: »

    Warren Buffet is probably the best investor alive, but he also tends to avoid areas he doesn't understand and is known for avoiding the technology sector. The article linked above quotes him as saying Bitcoin is in a bubble, I think that is pretty obvious and would tend to agree with him. In the past he has said that bitcoin is a mirage, that I don't agree with, and would put that statement down to the fact that he doesn't understand the underlying technology.

    As you said, there are always going to be differing opinions, on almost everything.

    Some of the reasons that I think that this endorsement from Thiel is significant, is that he is a major investor in the technology space. He's one of the founders of PayPal so understands FinTech. He is well known for betting on the companies/stock he thinks is in pole position to monopolise, i think he had over 200x returns on his Facebook investment.


  • Registered Users Posts: 60 ✭✭✭ covfefe


    seamus wrote: »
    How much Bitcoin is Thiel holding onto? Don't underestimate the fact that most bitcoin is being held for speculation, so it's always in a speculator's interests to talk up their asset.

    FYP
    Don't underestimate the fact that most bitcoin is being assets are held for speculation, so it's always in a speculator's interests to talk up their asset.

    I would be very surprised if he isn't holding a large amount of Bitcoin, but the same would apply to any asset that he/someone is invested in.


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