Peter Thiel, the popular German-American billionaire, and activist have just called out another billionaire, Warren Buffett, for his negative comments about Bitcoin in the past. Peter Thiel, who was a keynote speaker at the Bitcoin 2022 conference in Miami, said that the cryptocurrency industry must stand strong against opposition that comes from public figures like Warren Buffett.
Warren Buffett: An Enemy of Cryptocurrencies?
Warren Buffett has always been vocal about his disbelief in Bitcoin and all types of cryptocurrency. As a public figure and legendary investor, the opinion of the Berkshire Hathaway CEO has always held weight in the financial sector. Thiel is convinced that Barrett and other public figures are partially responsible for holding Bitcoin from reaching its full potential.
Thiel said that Buffett is Bitcoin’s number one enemy. You will recall that Buffett said Bitcoin is “worthless rat poison” a few years ago and that he cannot invest in something he does not understand. While his company has started showing interest in cryptocurrency companies, Thiel still blamed Buffett, referring to him as a “sociopathic grandpa from Omaha”.
While Buffett has not said anything bad about Bitcoin publicly in a few years, there are still several prospective institutional and retail companies that remain skeptical of Bitcoin and other cryptocurrencies. During his speech, Thiel also called out JPMorgan’s Jamie Dimon and BlackRock’s Larry Fink for their opposition to Bitcoin.
“We have to fight this opposition so Bitcoin can increase 10x or 100x in the future.”In Thiel’s words:
Thiel said that these top-tier investors were only saying negative things about Bitcoin because they are trying to protect their fiat-based investment. If cryptocurrencies were to take over from fiat as the primary legal tender in the United States or across the globe, companies that are yet to embrace cryptocurrency and blockchain technology have a lot to lose.
Thiel also came for companies that have shunned Bitcoin due to environmental reasons. The investor noted that these so-called “woke companies” are currently working as “hate factories”, shaming businesses that take conventional roots. These companies claim that they cannot have anything to do with Bitcoin because the process of mining Bitcoin is not environmentally friendly.
This is not the first time Thiel is publicly critiquing Buffett’s opinions on investment. In 2013, Thiel said that Buffett’s investment model does not foster innovation because he has little to no interest in modern technology companies. He said that Buffett’s investment models can’t work for everyone.
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