PayPal co-founder Peter Thiel said at a conference he attended that the high price of the leading cryptocurrency Bitcoin is proof that the US economy is facing real inflation.
According to Bloomberg’s report, the famous billionaire, who stated that the price increases in Bitcoin were not temporary, targeted the US Federal Reserve for allowing inflation to rise.
Billionaire Thiel stated that the FED has not taken inflation seriously and has not solved the problem until now. He stated that the FED does not even understand the inflation problem, preferring to ignore the rapidly deteriorating situation, and that the FED still continues to print money.
I Wish I Had More Bitcoins!
Saying that he regrets not buying more Bitcoin before, Peter Thiel emphasized that Bitcoin should not be bought at current levels.
“You know, $60,000 in Bitcoin, I’m not sure if it should be bought aggressively. But the Bitcoin price tells us we are definitely in a time of crisis.”
Fed Chairman Joreme Powell, who thinks differently from Peter Thiel, recently said that high inflation indicators would decrease, but this could take longer than expected.
Powell emphasized that they are doing everything they can, saying, “Nobody should doubt that we will use our tools to bring inflation back to 2%.”
*Not Investment Advice.