{"id":60347,"date":"2021-11-08T09:04:17","date_gmt":"2021-11-08T14:04:17","guid":{"rendered":"https:\/\/olduvai.ca\/?p=60347"},"modified":"2021-11-08T09:04:17","modified_gmt":"2021-11-08T14:04:17","slug":"its-the-most-honest-market-we-have-peter-thiel-warns-bitcoin-exposes-our-current-crisis-moment","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=60347","title":{"rendered":"It’s The “Most Honest Market We Have” – Peter Thiel Warns Bitcoin Exposes Our Current “Crisis Moment”"},"content":{"rendered":"
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It’s The “Most Honest Market We Have” – Peter Thiel Warns Bitcoin Exposes Our Current “Crisis Moment”<\/a><\/h3>\n<\/header>\n
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Outspoken billionaire Peter Thiel said this week at at the National Conservatism Conference that\u00a0the high price of\u00a0bitcoin\u00a0is an indicator of U.S.\u00a0inflation<\/strong>, which has also recently touched a 13-year high.<\/p>\n

\u201cYou know, $60,000 bitcoin, I\u2019m not sure that one should aggressively buy,\u201d Thiel said, according to Bloomberg.<\/p>\n

\u201cBut surely what it is telling us is that we are having a crisis moment.\u201d<\/strong><\/p><\/blockquote>\n

These comments come a week after the tech visionary –\u00a0who recently opined on the origins of bitcoin<\/a> – offered an even more ominous projection:<\/p>\n

“[Bitcoin]’s the canary in a coal mine. It\u2019s the most honest market we have in the country and it\u2019s telling us that this old regime is about to explode.\u201d<\/strong><\/em><\/p><\/blockquote>\n

Thiel also slammed The Fed, claiming that they were not acknowledging the seriousness of the problem, and mentioned that the prices were not coming down any time soon, adding that\u00a0Powell and his pals are in a state of \u201cepistemic closure,\u201d<\/strong>\u00a0meaning close-mindedness, and they were of the view that printing money to resolve market issues will not impact inflation.<\/p>\n

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Finally, Thiel reiterated the fact that he\u00a0wished he had bought more bitcoin, adding now that he thinks inflation is here to stay<\/strong>; something that\u00a0Goldman has recently noted as a driver of upside from crypto<\/a>…<\/p>\n

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Which fits with a recent report from JPMorgan analysts who noted that \u201cwe believe the perception of bitcoin as a better inflation hedge than gold is the main reason for the current upswing<\/strong>, triggering a shift away from gold ETFs into bitcoin funds since September.”<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

It’s The “Most Honest Market We Have” – Peter Thiel Warns Bitcoin Exposes Our Current “Crisis Moment” Outspoken billionaire Peter Thiel said this week at at the National Conservatism Conference that\u00a0the high price of\u00a0bitcoin\u00a0is an indicator of U.S.\u00a0inflation, which has also recently touched a 13-year high. \u201cYou know, $60,000 bitcoin, I\u2019m not sure that one […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[4174,1849,4617,4318],"class_list":["post-60347","post","type-post","status-publish","format-standard","hentry","category-economics","tag-bitcoin","tag-financial-markets","tag-peter-thiel","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/60347","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=60347"}],"version-history":[{"count":0,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/60347\/revisions"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=60347"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=60347"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=60347"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}