Billionaire and PayPal co-founder Peter Thiel expresses uncertainty about significant growth in Bitcoin, noting that the market is currently focused on Bitcoin ETFs and there is no clear indication of when a new wave of buyers will emerge.
It is noteworthy that Thiel’s investment fund invested in Bitcoin back in 2014 and recorded a profit of $1.8 billion in 2022 before the price crash.
However, Thiel’s vision of Bitcoin did not align with reality. Initially, he saw Bitcoin as an anarchic, government-independent currency, but he noted that “people from the FBI say they would prefer criminals use Bitcoin rather than $100 bills, so the technology is not working as it should.”
