Investor Peter Thiel: Bitcoin will be gold of the digital age

Peter Thiel is an American businessman of German ancestry. He stands at the beginning of PayPal and famous investment in Facebook. The entrepreneur spoke at the Economic Club of new York and shared his thoughts about the main cryptocurrency in the world.

The prospects of Bitcoin — an opinion til

Thiel believes in the potential of Bitcoin, according to Bitcoinist. According to the investor, the coin can become a safe haven for investors something of a gold of the digital era.

The main question about Bitcoin — whether it be the new means of savings. I think it will replace something like gold.

Peter also recognized the high complexity of bitcoin payments for daily conduct. The investor believes the first cryptocurrency a kind of hedge, which does not bear systematic risk for the traditional financial instruments.

I’m not talking about the new payment system, Bitcoin is too difficult to use every day. There is another analogy — the gold bars in a vault that is not going away.

Thiel calls the strengths of gold is applicable in the case of cryptocurrencies. Simultaneously, the criticism of Bitcoin can be addressed to the gold.

This is a strange currency, which does not warrant any government. The same applies to gold.

In the end, the entrepreneur has acknowledged some similarities of the current situation with the dot-com bubble in the late nineties. This niche cryptocurrency is very different.

There are no analysts on wall street and the banks on wall Street that promote cryptocurrencies. With the era of the dotcom was the opposite.

Thiel believes that there is only one cryptocurrency can become a real equivalent of gold. That’s why he’s not talking about other coins, but openly supports Bitcoin.

I hope for truthful forecast of the businessman. In the case of equalizing the rights of cryptocurrency with gold courses will increase obviously.

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