Peter Thiel: Bitcoin Is The \u201cMost Honest Market\u201d<\/strong><\/h2>\nBitcoin has climbed back past $60K after its early 2021 parabolic run slowed. The bitcoin price has added 2.79 percent over the last 24 hours, taking it within touching distance of its all-time highs. BTC hit $64,490 on Tuesday \u2014 just shy of the 64,804 high set in April.<\/p>\n
![](\"https:\/\/zycrypto.com\/wp-content\/uploads\/2021\/10\/image-24-1024x599.png\")
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Thiel claimed that the world\u2019s largest cryptocurrency by market cap topping the $60,000 mark was a very optimistic signal.<\/p>\n
\u201cI don\u2019t know that you should put all your money into bitcoin at $60,000 a bitcoin right now. But surely the fact that it is at $60,000 is an extremely hopeful sign,\u201d <\/em>Thiel said recently during a conference hosted by the Stanford Federalist Society.<\/p>\nBitcoin\u2019s fresh rally comes as the first-ever bitcoin-linked exchange-traded fund (ETF) is greenlighted in the United States. The ProShares Bitcoin Strategy Fund launched on the New York Stock Exchange under the ticker BITO with an opening price of $40.88. The bitcoin futures-based ETF registered over $1 billion of trading volume on its first day, making it the largest in terms of \u201cnatural\u201d volume.\u00a0<\/p>\n
The venture capitalist went on to describe bitcoin as the \u201cmost honest market\u201d in the U.S. He touted the crypto\u2019s latest price rise as the \u201ccanary in the coal mine\u201d, which might suggest that the current \u201cdecrepit\u201d regime is on the verge of exploding. <\/p>\n
\u201cIt’s the canary in the coal mine. It\u2019s the most honest market we have in the country, and it\u2019s telling us that this decrepit regime is just about to blow up.\u201d<\/em><\/p>\nThiel, an outspoken Silicon Valley supporter of former US President Donald Trump, harbors the opinion that the Biden administration is shaping up as an absolute \u201ccatastrophe\u201d.<\/p>\n
Thiel has been known for his interest in the crypto space. His billion-dollar big data analytics company Palantir already accepts bitcoin as a payment option. Moreover, he earlier declared that Bitcoin could become a financial weapon for China against the United States. Thiel has also opened a Bitcoin mining facility in West Texas.<\/p>\n
Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Peter Thiel, the billionaire founder of Palantir<\/p>\n","protected":false},"author":3,"featured_media":142307,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[],"yoast_head":"\n
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