Peter Thiel claims that Bitcoin is holding back the financial geronotraty

Peter Thiel, the libertarian tech investor, took on Thursday with some of the most powerful US finance characters because of her criticism of Bitcoin and accused her of suppressing a mighty political movement.

Thiel, who made a name for himself as a pronounced contrary and formerly investor on Facebook, dismissed the revered investor Warren Buffett as a "sociopathic grandpa from Omaha". He also occupied Jamie Dimon, the CEO of JPMorgan, and Larry Fink, the head of Blackrock, as part of a "financial geronto crate" who wanted to exclude cryptocurrencies from the mainstream.

his outbreak came in front of a cheering crowd at the Bitcoin 2022 conference in Miami, where he described the cryptocurrency as part of a "revolutionary youth movement" that was to overthrow traditional finance and to threaten the power and wealth of the current establishment.

Thiel, one of the founders of PayPal, has long argued that digital currencies could overthrow today's financial system. PayPal gave up his own digital monetary ambitions early on to join the existing payment world. Although it is now worth $ 130 billion, Thiel described the online payment company as a disappointment compared to what it could have been.

In contrast, he claimed that Bitcoin worth $ 830 billion has the potential to record it with the entire gold of the world worth $ 13 trillion. With increasing inflation and falling trust in paper currencies, he also claimed that the value of Bitcoin could correspond to the public stocks that are currently worth $ 115 billion, as Gold had met the shares at the end of the 1970s.

In an arson attack, he claimed that the financial leaders had deliberately tried to suppress Bitcoin to protect their own power. "It is a movement and it is a political question of whether this movement will be successful or whether the enemies will be able to stop moving," he said. Buffett, he added, was "number one enemy".

Thiel became the most famous right figure of the Tech world in 2016 when he supported Donald Trump's presidential candidacy and spoke this year at the Republican party congress. On Thursday, he criticized the fashion for environmental, social and governance investments and represented it as a core element of the system that the financial institution uses to smash everything that threatens its power.

ESG had become a "hate factory for the naming of enemies", he claimed and compared the focus on social and governance issues with the way of working by the China Communist Party. He also dismissed environmental investments as "a kind of fake".

in a swipe at companies that react to political issues or employees on political questions, he added: "Awakened companies are checked by the government as Bitcoin will never be."