- Thiel reportedly said bitcoin’s price underscores his view that US policy is unsustainable.
- Thiel railed against Biden, the Obama administration and central banks, The Information reported.
- Bitcoin price surged to a new high above $66,000 on Wednesday.
The US political system is unsustainable, and the skyrocketing price of the decentralized cryptocurrency bitcoin underscores this point, tech billionaire Peter Thiel has said, according to a report by information.
“I don’t know if you should invest all your money in bitcoin at $60,000 a bitcoin right now,” Thiel said at a Monday night rally of the Federalist Society, a conservative law group.
“But the fact that it’s at $60,000 is certainly a hugely encouraging sign,” he said. “It’s the canary in the coal mine. It’s the most honest market we have in the country, and it tells us that this…decrepit regime is about to explode.”
The venture capitalist made his comments before bitcoin exploded to an all-time high of $66,812.68 on Wednesday following Tuesday’s trading debut of ProShares Bitcoin Strategy ETF, the first bitcoin futures exchange-traded fund. . The price of the most-traded digital coin surpassed the previous all-time high of $64,804.72, which was set in April, around the time crypto exchange Coinbase went public.
Speaking at Monday’s conference hosted by the Stanford Law School chapter of the Federalist Society, Thiel suggested eliminating environmental and immigration laws to balance the U.S. government’s budget, said The Information, adding that Thiel called President Joe Biden a “disaster.”
He also spoke out against Titanic’s “Clinton-Obama retreads that rearrange lounge chairs and clean floors”, and against the world’s central banks, saying the US Federal Reserve is a “center-left institution that is the most overvalued in all of the West”. world.”
Now is the time when the “one world state” comes to a halt, and with the help of crypto, “we’re going to pull it off,” he said, according to The Information.
The information said a White House spokesperson did not respond to a request for comment.