Peter Thiel is “pro-crypto” and “pro-Bitcoin maximalist,” but he also thinks the cryptocurrency may be undermining America.

Thiel, the venture capitalist and conservative political donor, urged the US government to consider tighter regulations on cryptocurrencies in an appearance on Tuesday. The statements seemed to represent a change of heart for Thiel, who is a major investor in virtual currency ventures as well as in cryptocurrencies themselves.

“I do wonder whether at this point, Bitcoin should also be thought [of] in part as a Chinese financial weapon against the US,” Thiel said during an appearance at a virtual event held for members of the Richard Nixon Foundation. “It threatens fiat money, but it especially threatens the US dollar.” He added: “[If] China’s long Bitcoin, perhaps from a geopolitical perspective, the US should be asking some tougher questions about exactly how that works.”

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook