Peter Thiel Said Bitcoin Could Be 'Chinese Financial Weapon' Against U.S. - Bloomberg

April 7, 2021 4:33 PM EDT

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Peter Thiel, the venture capitalist who describes himself as a "pro-crypto, pro-Bitcoin maximalist," had a stark warning for the U.S. government on the cryptocurrency, saying that Bitcoin could be a Chinese financial weapon against 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 at an event held for members of the Richard Nixon Foundation on Tuesday night, according to Bloomberg News which saws a video of the event. "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," he added.

Thiel urged the U.S. government to consider tighter regulations on cryptocurrencies.

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