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Peter Thiel lashes out at Warren Buffet and others for negative agenda against BTC

John KumiBy 0Edited by John Kiguru 8. April 20223 Mins Read
  • Peter Thiel a co-founder of PayPal, believes that some prominent American financiers are the reason Bitcoin could not hit $100k.
  • Thiel specifically called out Berkshire Hathaway CEO Warren Buffett, JPMorgan Chase CEO Jamie Dimon, and BlackRock CEO Larry Fink as members of a “finance gerontocracy”. 

Last year, a report published by the cryptocurrency research team at British bank Standard Chartered predicted that Bitcoin could hit $100k by December 2021 or early 2022. Several other analysts including Bloomberg, in its Crypto Outlook Report, predicted that Bitcoin was closer to hitting $100,000 than falling back to $20,000.

However, the digital asset could only go as high as $69,000 in November 2021 before taking a nosedive. 

Peter Thiel, co-founder of PayPal and Venture Capitalist believes that some prominent American financiers are the reason Bitcoin could not hit this predicted price target. Thiel specifically called out Berkshire Hathaway CEO Warren Buffett, JPMorgan Chase CEO Jamie Dimon, and BlackRock CEO Larry Fink. He labeled them as members of a “finance gerontocracy”.

According to him, Warren Buffett is a “sociopathic grandpa of Omaha,” who joined hands with others to harm Bitcoin with their environmental, social, and governance (ESG) investing campaign. 

When they choose not to allocate to Bitcoin, that is a deeply political choice, and we need to be pushing back against them.

In October last year, Thiel stated that it was a good sign as Bitcoin surpassed $60,000. Associating the Bitcoin boom to the ever-rising inflation, he mentioned that it was a sign of the collapse of the “decrepit” regime. 

BlackRock behind Tesla’s decision to suspend Bitcoin as a payment option?

Last year, Tesla rescinded its decision to accept Bitcoin as a payment option after citing environmental concerns associated with the proof of Work algorithm of Bitcoin mining. It was later reported that BlackRock was rumored to be behind Tesla’s decision. 

The finance gerontocracy that runs the country through whatever silly virtue-signaling slash hate factory term like ESG they have, versus what I would call, what we have to think of as a revolutionary youth movement.

In his statement, he took a dig at Federal Reserve Chair Jerome Powell, saying he should be thankful for having Bitcoin as his final warning. 

Mr. Powell — people like that — should be extremely grateful to Bitcoin because it’s the last warning they are going to get. They’ve chosen to ignore it, and they will have to pay the consequences for that in the years ahead.

Attempts to get a comment from BlackRock proved infertile, however, a spokesperson from the company referred reporters to Fink’s letter addressed to shareholders last month. In the letter, he stated that a thoughtful design digital payment system can drastically reduce money laundering and corruption. He further stated that it can cut down the cost of cross-border transactions. 

JPMorgan and Buffett’s Berkshire Hathaway Inc have all not responded to requests for comments. Thiel has heavily invested in Bitcoin and has also been involved in investing in blockchain-based crypto companies and exchanges. 

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This article is provided for informational purposes only and is not intended as investment advice. The content does not constitute a recommendation to buy, sell, or hold any securities or financial instruments. Readers should conduct their own research and consult with financial advisors before making investment decisions. The information presented may not be current and could become outdated.

John is a seasoned cryptocurrency and blockchain writer and researcher, boasting an extensive track record of years immersed in the ever-evolving digital frontier. With a profound interest in the dynamic landscape of emerging startups, tokens, and the intricate interplay of demand and supply within the crypto realm, John brings a wealth of knowledge to the table. His academic background is marked by a Bachelor's degree in Geography and Economics, a unique blend that has equipped him with a multifaceted perspective. This diverse educational foundation allows John to dissect the geographical and economic factors influencing the cryptocurrency market, offering insights that go beyond the surface. John's dedication to the crypto and blockchain space is not merely professional but also personal, as he possesses a genuine passion for the technologies that underpin this revolutionary industry. With his astute research skills and commitment to staying at the forefront of industry trends, John is a trusted voice in the world of cryptocurrencies, helping readers navigate the complex and rapidly changing terrain of digital assets and blockchain innovation. John Kiguru is an accomplished editor with a strong affinity for all things blockchain and crypto. Leveraging his editorial expertise, he brings clarity and coherence to complex topics within the decentralized technology sphere. With a meticulous approach, John refines and enhances content, ensuring that each piece resonates with the audience. John earned his Bachelor's degree in Business, Management, Marketing, and Related Support Services from the University of Nairobi. His academic background enriches his ability to grasp and communicate intricate concepts within the blockchain and cryptocurrency space. Business Email: info@crypto-news-flash.com Phone: +49 160 92211628

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