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Peter Thiel: Bitcoin to remain top cryptocurrency, fiat money have bubble features too

16 March 2018 00:00, UTC
Peter Thiel: Bitcoin to remain top cryptocurrency, fiat money have bubble features too

One of the PayPal leaders has suggested that Bitcoin was going to remain at the pedestal for a very long period of time and no digital currency would outrun it. The statement has been made by Peter Thiel at Economic Club of New York.

He even criticized the “Bitcoin is economic bubble” concept currently shared by many traditionalists in the financial world. He even told that money also have bubble features but they don’t collapse, in this partly resembling Vitalik Buterin’s father whose statement on fiat currencies being backed by a collective hallucination is at the press time the most viewed news material on Bitnewstoday.

Some investors suggest that the digital currency market situation in the future will absolutely not resemble the modern one, with some new cryptocurrencies driving out old ones. For example, this concept has been endorsed by Frank Holmes, chief executive of U.S. Global Investors.

Peter Thiel has already expressed his views on digital currencies in the past. Older reports suggest that he, contrariwise to the management of VISA, does not think that Bitcoin is inherently bad.

Image courtesy of Bloomberg / Getty Images



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