Bitcoin is “China’s weapon against US power”

Bitcoin is “China’s weapon against US power”
Bitcoin is “China’s weapon against US power”
The bomb was dropped during a Richard Nixon Foundation streaming seminar. Peter Thiel, US venture capitalist, PayPal co-founder and early crypto bull, said the Bitcoin could be used by China as “financial weapon”Against the power of the United States.

For this, according to Thiel, Washington should accelerate on the front of regulations, as long suggested by US Treasury Secretary Janet Yellen, ECB President Christine Lagarde, and most recently Federal Reserve Governor Gerome Powell.

China uses Bitcoin to hit the US

Of course, Bitcoin is not new to suspicions and accusations, and it is to be believed that by now it has broad shoulders: from speculative instrument a vehicle for recycling, everything has rained on crypto in recent years, stopping its rise and instilling a certain mistrust in the salons of mainstream finance.

This time, however, BTC is bothered by a thoroughbred bull like Peter Thiel, who has invested – directly and indirectly – billions of dollars on the asset. The US financier, while reiterating his vocation “pro-crypto”, Emphasized the geopolitical impact of the currency, and above all the weight it could exert on delicate US-China balances.

Bitcoin thus becomes “a financial weapon”In the hands of Beijing, which threatens the fiat currencies but above all the US dollar. A design that had already been relaunched with the first pilot tests on the yuan digitale, which aspires by the very admission of the leaders of the Dragon to dethrone the greenback in the global financial system.

For this, according to Thiel, “the US should ask itself more questions about how Bitcoin works“, And possibly change pace on the front of regulations, the last bastion against Chinese exuberance.

Thiel points the finger at US big techs

Still in the context of US-China relations, the discussion then shifted to big tech US who have commercial relations with Beijing. Under the Google lens, which Thiel had already accused of working against American interests in 2019, and which is now back in the spotlight for the technology of artificial intelligence loaned to China and, perhaps, used in the repression of the Turkish-speaking Uyghur minority in the Xinjiang region.

Accusations that even Apple, the only Silicon Valley giant to have “true synergies”With China, and which exploits, according to Thiel, the working standards softer than the Dragon compared to the United States and the European Union. “Apple has a serious structural problem”, The financier commented.

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