Home Business News Bitcoin could become China's weapon by CoinQuora

Bitcoin could become China’s weapon by CoinQuora


PayPal CEO: Bitcoin can become China’s weapon

  • The PayPal CEO is skeptical of the motivations behind China.
  • He asked the country’s strategists to be very careful because it could be a weapon.
  • He also regrets the relationship of Apple (NASDAQ πŸ™‚ and Google with China.

PayPal co-founder Peter Thiel may love cryptocurrencies but he is skeptical of China’s motives for Bitcoin.

Speaking at an online event hosted by the Richard Nixon Foundation, Thiel shared her concerns. He noted that China may be using BTC as a financial weapon against the sovereignty of the US Dollar. To host Hugh Hewitt’s question about the threat China posed to Dollar, the businessman did not seem hopeful. He say,

“Even though I’m a cryptocurrency advocate, I still wonder if at this point Bitcoin should be seen as part of China’s financial weapon against the US.”

He also added that Bitcoin poses a threat to the very idea of ​​fiat currency itself. In that way, it’s very dangerous against the US dollar. Thiel also urged national strategists to be very cautious in handling Bitcoin-related changes in the international geopolitical landscape.

Global technology race

China’s ability to innovate and surpass the United States is not in dispute. Instead, Peter Thiel focuses on China’s power to copy everything. He accepts that China has not made much progress in blockchain technology. However, it could still achieve parity in the US. This could make the West lose its advantage of world domination.

In that regard, he also expressed regret for the relationship of major technology companies with China, namely Google (NASDAQ πŸ™‚ and Apple. Additionally, he noted China’s very own burgeoning stablecoin and declined to call it a cryptocurrency. Instead, he exclaimed that it was a ‘Totalitarian Measuring Device’.

In a pro-crypto move, PayPal recently allowed its customers to store, buy, and sell cryptocurrencies using its platform. It has also allowed customers to buy with crypto, which is only open in the US at this time.

This article was first published on coinquora.com

Continue reading on CoinQuora

Disclaimer: Fusion Media wants to remind you that the data contained in this website is not necessarily real-time nor is it accurate. All CFDs (stocks, indices, futures) and forex prices are not provided by exchanges but are provided by the market makers, so the prices may be inaccurate and may differ from actual market price, which means that price is indicative and not suitable for trading purposes. Consequently, Fusion Media accepts no liability whatsoever for any transaction losses you may incur as a result of using this data.

Fusion Media or anyone associated with Fusion Media will not be liable in any way for loss or damage resulting from dependence on information including data, quotes, charts and buy / sell signals contained in the this site. Please be fully informed about the risks and costs associated with trading the financial markets, which is one of the riskiest investments possible.



RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments