{"id":23942,"date":"2024-06-29T14:00:21","date_gmt":"2024-06-29T11:00:21","guid":{"rendered":"https:\/\/coinengineer.io\/?p=23942"},"modified":"2024-06-29T10:53:21","modified_gmt":"2024-06-29T07:53:21","slug":"peter-thiel-skeptical-about-bitcoins-future-price-surge-despite-etf-boost","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/peter-thiel-skeptical-about-bitcoins-future-price-surge-despite-etf-boost\/","title":{"rendered":"Peter Thiel Skeptical About Bitcoin&#8217;s Future Price Surge Despite ETF Boost"},"content":{"rendered":"<p><strong>Former PayPal CEO Peter Thiel<\/strong> questions Bitcoin&#8217;s potential for explosive price rises from its present value. Now that <strong>Bitcoin<\/strong> has had its &#8220;ETF edition&#8221; the millionaire, who still owns &#8220;some&#8221; but not as much as he &#8220;should have&#8221; is not sure from whence the next wave of purchasers will originate.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/peter-thiel-skeptical-about-bitcoins-future-price-surge-despite-etf-boost\/#Thiels_Views_on_Bitcoins_Growth\" title=\"Thiel&#8217;s Views on Bitcoin&#8217;s Growth\">Thiel&#8217;s Views on Bitcoin&#8217;s Growth<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/peter-thiel-skeptical-about-bitcoins-future-price-surge-despite-etf-boost\/#Ideological_Shift_and_Bitcoins_Reality\" title=\"Ideological Shift and Bitcoin&#8217;s Reality\">Ideological Shift and Bitcoin&#8217;s Reality<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Thiels_Views_on_Bitcoins_Growth\"><\/span>Thiel&#8217;s Views on Bitcoin&#8217;s Growth<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Founders Fund founder Thiel<\/strong> voiced doubt about notable potential price increases for <strong>Bitcoin<\/strong> in a June 28 interview with CNBC. &#8220;I&#8217;m not sure from here whether it will rise that drastically. We choose the ETF version; I&#8217;m not sure anyone else purchases it.&#8221; &#8220;It most likely still can go up some, but the ride will be erratic.&#8221;<\/p>\n<p><a href=\"https:\/\/coinengineer.net\/blog\/european-union-enforces-crypto-law-mica\/\"><em><span style=\"font-weight: 400;\">This Might Interest You: European Union Enforces Crypto Law MiCA<br \/>\n<\/span><\/em><\/a><br \/>\nJust weeks before the Bitcoin all-time high of $69,000, Thiel already acknowledged to having &#8220;underinvested&#8221; in the cryptocurrency back in October 2021. Though wary, <strong>Thiel&#8217;s Founders Fund<\/strong> has had a good track record with Bitcoin; initially invested in 2014 and made $1.8 billion profits before the market collapse in 2022. When prices fell below $30,000 in 2023 the fund then bought another $100 million in <strong>Bitcoin<\/strong>.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Ideological_Shift_and_Bitcoins_Reality\"><\/span>Ideological Shift and Bitcoin&#8217;s Reality<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Reflecting on his early ideological excitement for <strong>Bitcoin<\/strong>, Thiel also saw it as a cypherpunk, crypto-anarchist, libertarian substitute for centralized government authority. But he now sees things differently. This is the issue of the ideological founding concept of Bitcoin as a cypherpunk, crypto-anarchist, libertarian, anti-centralized government entity from which I am less persuaded. That&#8217;s what I found very amazing about it, Thiel remembered. He now, however, thinks Bitcoin has fallen short of this ideal.<\/p>\n<p>&#8220;<em>When FBI agents tell me they would much prefer have criminals use Bitcoin than $100 bills it suggests maybe it&#8217;s not quite working the way it was supposed to<\/em>&#8221; Thiel observed. Although <strong>Bitcoin<\/strong> was meant to be a public, permissionless, distributed ledger, it was never meant to be absolutely untraceable like Monero and other privacy-oriented networks.<\/p>\n<p><em><a href=\"https:\/\/t.me\/coinengineernews\"><span style=\"font-weight: 400;\">Click here to get the latest news from Coin Engineer!<\/span><\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Former PayPal CEO Peter Thiel questions Bitcoin&#8217;s potential for explosive price rises from its present value. Now that Bitcoin has had its &#8220;ETF edition&#8221; the millionaire, who still owns &#8220;some&#8221; but not as much as he &#8220;should have&#8221; is not sure from whence the next wave of purchasers will originate. Thiel&#8217;s Views on Bitcoin&#8217;s Growth<\/p>\n","protected":false},"author":6,"featured_media":23943,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,657,1,2],"tags":[61,4331],"class_list":["post-23942","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-en","category-genel","category-news","tag-bitcoin","tag-peter-thiel"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Peter Thiel Skeptical About Bitcoin&#039;s Future Price Surge Despite ETF Boost - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/peter-thiel-skeptical-about-bitcoins-future-price-surge-despite-etf-boost\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Peter Thiel Skeptical About Bitcoin&#039;s Future Price Surge Despite ETF Boost - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Former PayPal CEO Peter Thiel questions Bitcoin&#8217;s potential for explosive price rises from its present value. 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