Paypal co-founder and billionaire venture capitalist Peter Thiel launched a scathing attack on the enemies of [cs_coin]BTC[\/cs_coin] at the Bitcoin 2022 Conference. He used his keynote address at Bitcoin Miami to challenge some of the most powerful US financial institutions. Starting his speech by throwing dollar bills into the audience, Thiel was ready to tackle the enemies of cryptocurrency.<\/p>\n
Beginning his speech by reflecting on some of his thoughts in 1999, Thiel cleverly planted the idea that big institutions would have to give up some of the power they wielded over 20 years ago.<\/p>\n
The speech is laden with bold statements with Thiel believing the real competitor for Bitcoin isn't Gold or Equities in general, it is the stock market as a whole. However, as shark tank investor Kevin O\u2019Leary points out in the panel discussion after this controversial keynote, right now there isn't a single pension plan or sovereign wealth fund that is allowed to buy Bitcoin as an asset so it is difficult to make a comparison with the S&P 500.<\/p>\n
Shortly after this statement Thiel shifts gears and asked the audience to consider why Bitcoin has not yet converged with gold or the equity markets, asking the audience to consider it as a political question.<\/p>\n
\nPeter Thiel making a clear declaration in Miami: the Financial Gerontocracy has declared war on Bitcoin as a revolutionary youth movement for good reason. It is thus time the revolutionary youth should understand their enemies & return fire. [Paraphrased]#BitcoinMiami<\/a> #Bitcoin<\/a> pic.twitter.com\/UWHdy9JyrU<\/a><\/p>\n
— Eric Weinstein (@EricRWeinstein) April 7, 2022<\/a><\/p><\/blockquote>\n