Peter Thiel DESTROYS Warren Buffet On Bitcoin - Bitcoin Conference (2022)
Co-Founder of PayPal, Billionaire Peter Thiel, did not bite his tongue in his 26-minute Keynote Speech at the Bitcoin Conference 2022.
Thiel’s fantastic presentation looked at the history of our financial instruments dating back to the 1970s. According to his research, Gold took a quantum leap in market capitalization during the bull run of the late 1970s, reaching a 2.5 Trillion dollar market cap, which was the same market cap as equities at the time.
Since the Gold and Equities 1 to 1 ratio back in the 1970s, Gold grew to a 12 Trillion dollar market cap while Equities completely dwarfed it, reaching a 115 Trillion dollar market cap. With Bitcoin currently at around $850 Billion in market cap, the common comparison has always been to look up at the next rung on the ladder, which is Gold.
But Peter Thiel argued that if Bitcoin really wants to reach its maximum potential, then it should not compare itself to gold, but rather, compare itself to equities. This is when Thiel didn’t hold back on his thoughts about the leaders in the equity space, naming out the enemies of Bitcoin and why they are holding it back.
About Peter Thiel:
Peter Andreas Thiel is a German-American billionaire entrepreneur, venture capitalist, and political activist. A co-founder of PayPal, Palantir Technologies, and Founders Fund, he was the first outside investor in Facebook.
Credits:
Bitcoin Magazine, Bitcoin Conference 2022:
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