Bitcoin could be a Chinese weapon by CoinQuora


PayPal CEO: Bitcoin could be a Chinese weapon

The CEO of PayPal is skeptical about China’s motives. He asked the strategists of the countries to be very careful, as it could be a weapon. He also regretted Apple‘s (NASDAQ πŸ™‚ and Google‘s relationship with China. PayPal co-founder Peter Thiel might love cryptocurrencies, but is skeptical about China’s motives with Bitcoin. Speaking at an online event hosted by the Richard Nixon Foundation, Thiel shared his concerns. He pointed out that China could be using BTC as a financial weapon against the supremacy of the US dollar. In response to a question from host Hugh Hewitt about the threat China poses to the dollar, the businessman did not seem hopeful. He said: “Although I am kind of a pro-crypto, pro-Bitcoin maximalist person, I wonder if at this point Bitcoin should also be seen in part as a Chinese financial weapon against the United States.” He also added that Bitcoin poses a threat to the very idea of ​​fiat currency. In that way, it is very dangerous for the US dollar. Thiel also called on national strategists to be very careful when dealing with Bitcoin-related changes within the international geopolitical landscape. The ability of China’s Global Tech Race to innovate and outperform the United States was not in doubt. Rather, Peter Thiel focused on China’s power to copy things. He accepted that China had not made much progress in blockchain technology. However, it may still be able to reach a parity position in the US This could result in the West losing its advantage as world dominator. In this regard, he also regretted the relationships of big tech companies with China, specifically Google (NASDAQ πŸ™‚ and Apple. Furthermore, he took note of the development of China’s stablecoin and refused to call it a cryptocurrency. Instead, he claimed it was a “totalitarian measuring device.” In a pro-crypto move, PayPal has recently allowed its customers to store, buy and sell crypto using its platform. It has also allowed customers to buy using cryptocurrencies, open to the US at this time only. This article was first published on Continue reading on CoinQuora

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