Thiel made the comment at the Bitcoin 2022 conference, where he explained the difference between fiat — or government-backed — money and cryptocurrency.
“Even being in a stock, you’re effectively being in something that’s like a government-linked entity.
This is the way Bitcoin trades every day,” said Thiel, who made his name, in part, by being the first outside investor in Facebook.
The venture capitalist also listed CEOs Jamie Dimon, Warren Buffett and Larry Fink as the “enemies” of Bitcoin, saying they have an “institutional bias” against the world’s most popular cryptocurrency.