CEO of PayPal Believes Bitcoin Could Give China a Financial Advantage Over the United States

CEO of PayPal Believes Bitcoin Could Give China a Financial Advantage Over the United States

Peter Thiel, the CEO of the payment giant, PayPal, claims he loves BTC but hates it when it is mined or used by China. In an event organized virtually by the Nixon Foundation, Thiel noted that Bitcoin could be a weapon for china when it comes to a non-conventional war against the US, using all of its characteristics as an advantage to stall the dominance of the US Dollar.

He said that even though he is a supporter and an enthusiast in the crypto space and even as a pro-BTC person, he had always wondered if by now people would see Bitcoin as a financial weapon for china against the United States as he does.

The United States against the World

Peter Thiel further explained that bitcoin could be a threat to the idea of conventional money generally but most especially a danger to the US Dollar. With this, he called on the strategists in the US to take developments related to Bitcoin more seriously when analyzing the international political landscape.

It is understood that the hodlers of BTC are not the only party that will be offended by the world of Thiel about being a weapon for the communist party in china. But according to Peter Thiel in the event, Euro itself existed as a Chinese weapon and as part of its conspiracy to overturn the economic power that the United States has when it comes to controlling some sensitive aspects of the global economy.

He said that from China’s perspective, they don’t like the idea of the US having this particular reserve currency because of the advantage it gives them to control things such as the supply chain of Oil and others. They don’t want their Renminbi to be sidetracked. So, he said that he thinks Euro could be thought of as part of a Chinese instrument to rival the US dollar.

The Global Race in the Tech Industry According to the PayPal CEO

He is not concerned about the innovative and creative power of China but in their ability to dub things. As a response to Michael Pompeo, he said that there hadn’t been many advances made by China in Blockchain technology. But if china reaches a point of parity with the US from the technological standpoint, the geopolitical dominance can be moved from the west.