Billionaire PayPal co-founder Peter Thiel expresses his thoughts on near-record high Bitcoin prices. Which, he believes, signifies that inflation is not transitory, according to Bloomberg reports.
Also, Peter Thiel believes that Bitcoin is not at a good buy at the current level:
“You know, $60,000 Bitcoin, I’m not sure that one should aggressively buy.”
Recall, Last month, Peter describes high cryptocurrency prices as
“the canary in the coal mine,”
Then, states that it is an indication for the current period.
More so, Peter Thiel attacks the U.S. Federal Reserve for turning a blind eye to inflation.
Furthermore, Fed Chairman Jerome Powell confirms that it’ll take long for inflation readings to come down.
However, there are tools the central bank can deploy to bring it back down to the 2% level.
Then, Peter Thiel explains.
“No one should doubt that we will use our tools to guide inflation back down to 2%.”
Notably, Thiel also expresses more regrets on not buying more Bitcoin at cheaper prices.
Recall, In October, Bitcoin at $61,355 marks its highest monthly candle in history. Meanwhile, Bitcoin is currently seeing 9.6% decline from its all-time high of $67,276.
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