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Billionaire venture capitalist Peter Thiel of PayPal fame shredded investor Warren Buffett at the Bitcoin 2022 conference in Miami on Thursday, putting him at the top of an “enemies list” of those trying to eradicate the cryptocurrency.
“Enemy No. 1,” Thiel branded the business magnate from the podium to loud boos from the audience, is “the sociopathic grandpa from Omaha.”
Thiel, who has reportedly amassed hundreds of millions of dollars worth of Bitcoin, also thrashed JPMorgan CEO Jamie Dimon and BlackRock CEO Larry Fink as enemies of the cryptocurrency.
Thiel put up huge images of those standing against Bitcoin and labeled all of them with the word “gerontocracy.” He slammed Dimon’s views as being indicative of “the New York City banker bias.”
(Video Credit: GEOPOP)
The headshot that Thiel put on the screen of Buffet sported the words “rat poison.” That refers to the Berkshire CEO comparing Bitcoin to the phrase and swearing he would never own any of it.
“I don’t own any and I never will,” Buffett vowed.
However, Buffett’s bluster is heavy with nuance. Earlier in 2022, Berkshire dumped $1 billion into Brazil’s online Nubank which caters to crypto investors.
“This is what we have to fight for Bitcoin to go 10x or 100x from here,” Thiel declared to 25,000 attendees at the conference.
The Geretocracy v the youth pic.twitter.com/qMJxVlNKSP
— Kyle @ BTC Miami (@kylewestaway) April 7, 2022
Thiel believes these mega-investors view Bitcoin as a threat. They enthusiastically support Blockchain but not Bitcoin.
“When they choose not to allocate to Bitcoin, that’s a deeply political choice,” claimed Thiel. He then asserted that Buffett invests in a “list of woke companies.”
“We need to say, you know, you have to get on board with this,” Thiel remarked referring to investing in Bitcoin.
Thiel theatrically threw a wad of $100 bills to someone in the front row of the event while explaining the difference between government-backed fiat money and cryptocurrency.
“Even being in a stock, you’re effectively being in something that’s like a government-linked entity. Companies — woke companies — are sort of quasi-controlled by the government in a way that Bitcoin never will be,” he contended.
“The real competitor for Bitcoin is not Ethereum. That’s a payment system. It’s not even gold. It’s something like the S&P 500. It’s the stock market as a whole. This is the way Bitcoin trades every day,” claimed the first outside investor on Facebook.
Thiel believes that Bitcoin is the “most honest” and “most efficient” market in the world. He calls it “the canary in the coal mine” that predicted record-high inflation.
The Bitcoin advocate also tore into ESG, which stands for environmental, social, and governance standards, and is an increasingly popular way to evaluate investments, and the impact they have on the world. Many contend that the rating system will also be applied to individuals much like China’s “social credit” system.
“The finance gerontocracy that runs the country through whatever silly virtue-signaling slash hate factory term like ESG they have, versus what I would call, what we have to think of as a revolutionary youth movement,” he said.
Peter 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 #Bitcoin pic.twitter.com/UWHdy9JyrU
— Eric Weinstein (@EricRWeinstein) April 7, 2022
Thiel has noted that Bitcoin-associated companies are a target for ESG firms because they’re among the few entities not subject to heavy government influence and control, according to Bloomberg.
“Perhaps the real enemy is ESG,” Thiel concluded.
A spokesperson for BlackRock referred to comments Fink made to shareholders via a letter in March. He noted that Russia’s invasion of Ukraine could speed up the adoption of digital currencies and stated “a global digital payment system, thoughtfully designed, can enhance the settlement of international transactions while reducing the risk of money laundering and corruption.”
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