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PayPal technical investor and co-founder Peter Thiel believes China can use the cryptocurrency Bitcoin as a ‘financial weapon’ against the US
Thiel is also the co-founder of Palantir, a computer software company that has contracts with the U.S. and foreign governments that have hundreds of millions of dollars in contracts for law enforcement purposes. Palantir said in an SEC filing in August 2020 that he did not “cooperate with the Chinese Communist Party and prefer not to house our platforms in China, which could limit our growth prospects.”
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“From China’s point of view, they want to get – they do not like the US having this reserve currency because it gives us a lot of leverage on Iranian oil supply chains and all sorts of things,” Thiel said at the Nixon seminar on conservative realism on Tuesday. and national security, a monthly meeting of foreign business experts analyzing U.S. foreign policy, on the question of China’s proposed plan to create a digital currency.
He continues: “… And although I am a pro-crypto, pro-Bitcoin maximalist person, I wonder if Bitcoin at this stage should also be considered in part as a Chinese financial weapon against the US.”
Bitcoin, which reached a record value of $ 61,000 in March, is a type of digital currency, or crypto-currency, that owners can exchange via the Internet. Cryptocurrencies are decentralized, meaning they are not controlled by any particular person government or central banking system, other than cash or debit and credit cards. They are instead controlled by users and computer algorithms.
Thiel expressed concern about the Chinese government’s goal of weakening the US dollar.
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“Perhaps from a geopolitical perspective, the US should ask harder questions about exactly how it works,” he said.
Thiel also described the cryptocurrency as a ‘vague libertarian technology’ and artificial intelligence (AI) as’ kind of ‘communist’, saying that despite the US being ‘ahead of the basic science of AI’, China to apply it and make the whole of society in a state of supervision over the recognition of faces that are far more intrusive and totalitarian than even Stalinist Russia was. ‘
“This is something we are not prepared to do. It is a two-pronged thing by the way,” he said in response to a question about Palantir’s China policy.
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Thiel also visited Apple and Google to work with China during the seminar.
Palantir said in his SEC filing in August that the company’s leadership “believes that cooperation with the Chinese Communist Party is contrary to our culture and mission.”
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“We do not consider any sales opportunities with the Chinese Communist Party, do not offer our platforms in China and impose restrictions on access to our platforms in China to protect our intellectual property, to promote respect for and protection of privacy and civil liberties “protection and to promote data security,” it reads. “Our decision to avoid this large potential market could limit our growth prospects, and could adversely affect our business, results and financial condition, and we may not compete successfully with us. current or potential competitors who prefer to work in China. “