'I feel like I've been underinvested in it'

Peter Thiel

Adam Jeffery | CNBC

Peter Thiel, the co-founder of PayPal and Palantir, has stated he feels like he is underinvested in bitcoin because the world’s hottest cryptocurrency climbed to an all time high of simply over $66,000 per coin.

Speaking at a night occasion in Miami on Wednesday, simply hours after bitcoin hit a brand new file value, Thiel reportedly joked that “you’re supposed to just buy bitcoin” earlier than including “I feel like I’ve been underinvested in it.”

His feedback, which have been reported by Bloomberg, got here after a number of different billionaires together with Tesla CEO Elon Musk and Twitter co-founder Jack Dorsey have proven help for the cryptocurrency. Bitcoin’s value has been extremely unstable over the previous few years and lots of have warned that it presents an enormous danger to traders.

Thiel went on to say that his solely hesitation in the case of investing in bitcoin was that he thought “the secret was already known by everybody,” in keeping with Bloomberg. “I think the answers are still to go long” on bitcoin, Thiel added, earlier than saying “maybe it still is enough of a secret.”

At a separate occasion on Monday, the billionaire stated the stratospheric value of bitcoin is among the clearest indicators that the present political system is unstable, according to The Information.

“I don’t know that you should put all your money into bitcoin at $60,000 a bitcoin right now,” Thiel stated.

“But surely the fact that it is at $60,000 is an extremely hopeful sign. It’s the canary in the coal mine. It’s the most honest market we have in the country, and it’s telling us that this decrepit … regime is just about to blow up.”