From Investing.com: 2024-06-30 10:30:19

Billionaire investor Peter Thiel believes that Bitcoin has already reached much of its potential value, stating that significant price increases may be over. He expressed regret for not purchasing more Bitcoin earlier and skepticism about its future due to the rise of decentralized computing and the FBI’s preference for Bitcoin in criminal transactions.

Thiel noted that traditional financial institutions like BlackRock have appropriated Bitcoin, diverging from its original cypherpunk ideals of autonomy and decentralization. He believes Bitcoin’s revolutionary nature may be losing its appeal as it struggles to gain traction as a mainstream financial asset.

Despite acknowledging Bitcoin’s volatility, Thiel sees the possibility for some upward movement in its price. He warns that while there may still be opportunities for gains, they come with significant risks. Thiel predicts a volatile ride ahead for Bitcoin investors.

Read more at Investing.com: Most of Bitcoin (BTC) Value Has Been Extracted By U.Today