Peter Thiel urged the U.S. government to consider tighter regulations on cryptocurrencies during an appearance at a virtual event held for members of the Richard Nixon Foundation.
He described himself as a “pro-crypto, pro-Bitcoin maximalist,” but warned that Bitcoin “threatens the U.S. dollar.”
“I do wonder whether at this point, Bitcoin should also be thought of in part as a Chinese financial weapon against the U.S.,” Thiel said. “It threatens fiat money, but it especially threatens the U.S. dollar. If China’s long Bitcoin, perhaps from a geopolitical perspective, the U.S. should be asking some tougher questions about exactly how that works.”