Peter Thiel Calls Bitcoin 'Moderately Big Invention' Compared With The Internet: It Was 'Systematically Underestimated' For The First 10-11 Years Of Its Existence
Portfolio Pulse from Shanthi Rexaline
Peter Thiel discussed Bitcoin on the Joe Rogan Experience podcast, calling it a 'moderately big invention' that was underestimated for its first decade. Thiel compared Bitcoin's innovation to the internet and highlighted its slow but steady progress. Despite its advantages, Bitcoin faces challenges like regulation and fraud. Thiel's Founders Fund invested $200 million in Bitcoin and Ethereum in 2023. Bitcoin has outperformed the S&P 500 this year, gaining over 38%.
August 19, 2024 | 6:33 am
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Peter Thiel's positive remarks on Bitcoin's innovation and its performance in 2023 could boost investor confidence. Despite challenges, Bitcoin's 38% gain this year highlights its potential.
Thiel's positive comments and the significant investment by Founders Fund in Bitcoin could lead to increased investor interest and confidence, potentially driving up the price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Thiel's Founders Fund invested in Ethereum alongside Bitcoin, indicating confidence in its potential. This could positively impact Ethereum's market perception and price.
The investment by Founders Fund in Ethereum suggests a strong belief in its future, which could positively influence market sentiment and drive up the price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80