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23 April 2021

Paypal Cofounder Peter Thiel Thinks China Is Using Bitcoin as Financial Weapon Against the US – Featured Bitcoin News

Paypal Cofounder Peter Thiel Thinks China Is Using Bitcoin as Financial Weapon Against the US – Featured Bitcoin News


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Paypal Cofounder Peter Thiel Thinks China Is Using Bitcoin as Financial Weapon Against the US – Featured Bitcoin News.

dollar’s reserve currency status, could be using bitcoin as a financial weapon against the U.S.

While he concedes that China has no intentions of making the yuan renminbi a reserve currency, Thiel still thinks the Asian country may have longed bitcoin because it weakens the dollar’s influence.

Speaking at the recent Richard Nixon Foundation seminar, Thiel also suggested that China ideally prefers to have two reserve currencies that counter the dollar.

According to Thiel, a self-professed bitcoin maximalist, bitcoin has now become the second reserve currency that China uses to fight the dollar’s influence.

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