Mainly, Thiel says, this has been due to the staggering inflation rates that the country has been experiencing following the pandemic.
This lines up with general sentiment towards the financial markets.
Thiel was present at the second National Conservatism Conference where he expressed displeasure at the way the Fed has been approaching rising inflation in the country.
Thiel expressed strong displeasure at the rate at which the Fed continues to print dollars, a problem which has been pointed out by many in the financial sectors.
Thiel shared that growing inflation has factored into bitcoin’s success thus far and could see the digital asset continue its rally.
The state of the economy has been a growing concern in financial markets recently.
With over 200% returns each year, investors with money in BTC can safely avoid the impact of inflation on their assets, which currently sits at 5.4% for the past year.
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