- Peter Thiel identifies key figures he believes obstruct Bitcoin’s exponential rise, including Warren Buffett and Jamie Dimon.
- Thiel criticizes ESG standards, likening them to the practices of the Chinese Communist Party.
Thiel’s Bitcoin Adversary Roster
In a bold address at the Bitcoin 2022 conference in Miami, Florida, billionaire and Paypal co-founder Peter Thiel divulged his “enemies list”—a catalog of individuals he perceives as barriers to Bitcoin’s monumental growth potential.
The “enemies list is a list of people who I think are stopping bitcoin,” he said.
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Opening his discourse, Thiel articulated his perspective on this adversary list, noting that many of its members maintain a “nameless faceless bureaucrat” stance. He emphasized that confronting these entities is pivotal for Bitcoin to witness 10x or even 100x appreciation. Delving into global financial shifts, Thiel accentuated the impending downfall of central banks, prognosticating the twilight of the fiat currency era.
Topping this controversial register is Warren Buffett, CEO of Berkshire Hathaway. Displaying Buffett’s image alongside his pronouncedly anti-Bitcoin statements, including references to it as “rat poison” and an avowal of his non-investment in the crypto, Thiel labeled Buffett as the “sociopathic grandpa of Omaha.” He asserted that Buffett’s entrenched inclination towards the conventional fiat system fosters reluctance amongst financial managers to venture into the Bitcoin domain.
Following Buffett, JPMorgan Chase’s CEO, Jamie Dimon, was spotlighted. Accompanying Dimon’s image was his take on cryptocurrencies, emphasizing them as mere “crypto tokens,” owing to their absence of centralized backing, a stark contrast to traditional currencies.
Interpreting Blockchain Ambiguity
Next in line was Larry Fink, the chief at Blackrock. Highlighting Fink’s perspective on the bright future of “digitized crypto-blockchain-related currency,” Thiel commented on the prevalent misinterpretation of this statement. He stressed that endorsing blockchain frequently translates as veiled Bitcoin skepticism—a notion reiterated by Thiel’s claim that being “pro-blockchain” often denotes an underlying “anti-bitcoin” sentiment.
The discourse took a twist when Thiel broached Environmental, Social, and Governance (ESG) standards. For the uninitiated, ESG standards are evaluation metrics employed by investors to gauge the sustainability and societal impact of investments. Thiel’s take on ESG was scathing, describing it as a “hate factory.” Drawing a stark parallel, he equated ESG practices to the strategies of the Chinese Communist Party (CCP), urging attendees to perceive ESG in the same light as the CCP. Thiel lambasted what he described as the “finance gerontocracy,” accusing it of maneuvering through deceptive signaling systems like ESG.
In a fervent conclusion, Thiel characterized the pro-bitcoin community as a “revolutionary youth movement,” exhorting attendees to emerge from the conference with a global takeover ambition.