2024

Bitcoin

when

Former PayPal CEO Peter Thiel has expressed doubts about the potential for Bitcoin’s price to increase significantly from its current levels.
The billionaire — who still owns “some” Bitcoin but not as much as he “should have” — isn’t sure where the next batch of buyers will come from now that Bitcoin has had its “ETF edition.”
“I’m not sure it's going to go up that dramatically from here. We got the ETF edition and I don't know who else buys it,” Thiel, a founder at the Founders Fund <a href="https://www.youtube.com/watch?v=orfpRBkwbmU" target="_blank" rel="noopener nofollow">told</a> CNBC on June 28.
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 “It probably still can go up some but it’s going to be a volatile, bumpy ride.”
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<blockquote class="twitter-tweet">
 NEW‼️- Billionaire Peter Thiel: I didn’t buy as much <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>&nbsp;as I should have. <a href="https://t.co/AtklzIw9ME">pic.twitter.com/AtklzIw9ME</a>— Swan (@Swan) <a href="https://twitter.com/Swan/status/1806797074093981855?ref_src=twsrc%5Etfw">June 28, 2024</a>
</blockquote> 
<a href="https://cointelegraph.com/news/paypal-co-founder-peter-thiel-says-he-underinvested-in-bitcoin">Thiel previously said</a> he was “underinvested” in Bitcoin in October 2021, when the cryptocurrency was rallying towards its previous all-time high of $69,000 set about three weeks later.
However, <a href="https://cointelegraph.com/news/peter-thiels-vc-fund-invests-millions-into-bitcoin-market-reacts">Thiel’s Founders Fund</a> has a rather impressive history with Bitcoin — having made its first Bitcoin investment in 2014 and profited $1.8 billion shortly before the market collapsed in 2022.
Founders Fund then <a href="https://cointelegraph.com/news/founders-fund-bought-200-m-btc-eth">bought another $100 million in Bitcoin</a> in 2023 when it was trading below $30,000.
<h3 id="bitcoin-isn-t-that-cypherpunk">Bitcoin isn’t that cypherpunk </h3>
Thiel revealed that Bitcoin hasn’t turned out as cypherpunk as he originally envisioned.
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 “Where I’m less convinced is this question of the ideological founding vision of Bitcoin as a cypherpunk, crypto-anarchist, libertarian, anti-centralized government thing.”
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“That’s what I thought was terrific about it,” Thiel recalled when first coming across Bitcoin.
Related: <a href="https://cointelegraph.com/news/fidelity-exec-says-most-investors-should-have-some-bitcoin-allocation">Fidelity exec says most investors should have some Bitcoin allocation</a>
But he now believes Bitcoin “doesn’t really work that way.”
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 “When people in the FBI tell me that they'd much rather have criminals use Bitcoin than $100 bills it suggests that maybe it's not quite working the way it was supposed to.”
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However, <a href="https://cointelegraph.com/explained/private-public-and-consortium-blockchains-the-differences-explained">Bitcoin was designed</a> to be a public, permissionless and decentralized ledger — and transactions weren’t intended to be completely untraceable like Monero and other privacy-focused networks. 
Bitcoin is <a href="https://cointelegraph.com/explained/what-determines-the-bitcoin-price">currently trading</a> at $60,450, down 1.8% over the last 24 hours.
Magazine:<a href="https://cointelegraph.com/magazine/recursive-inscriptions-bitcoin-supercomputer-defi-aws-possible/"> Recursive inscriptions: Bitcoin ‘supercomputer’ and BTC DeFi coming soon</a>

Bitcoin price won’t ‘dramatically’ increase from here, says billionaire

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