Billionaire Says Bitcoin Has Been Undervalued
Billionaire venture capitalist Peter Thiel went on the Joe Rogan Experience podcast last week to say that Bitcoin as an invention has been greatly undervalued.
He said, “Bitcoin was a big invention” that has been “underestimated for at least… 10-11 years.” One of the ways that Thiel said Bitcoin has been overlooked and not appreciated like it should be is how cryptocurrency paved the way for many innovations in artificial intelligence. Without the rise of crypto, would we have the rapidly growing AI market or have the advances in AI that we have now? That is one of the questions he raised.
Cryptocurrency has become so dividing as an industry, Thiel continued. He understands that many people are wary of blockchain currency and see it as volatile and unreliable. Because the invention of Bitcoin has been so divisive, and because we are not used to seeing big things happen, he argues, we have failed to see how big of an invention Bitcoin really was.
Compared to the internet, Thiel said, Bitcoin was a “moderately big” invention. To make a comparison of importance between the internet and any other kind of technology developed since then is a bold statement, but it is one that Thiel is unafraid to make.
How Big Has Bitcoin Become?
Bitcoin’s value may not be skyrocketing right now like it was earlier in the year, but the data shows that 25% of Americans have used Bitcoin. That is an incredible reach for any invention- not as far as the internet, (94% of Americans have used that invention) but still amazing for something that is so divisive.
Bitcoin has not reached mainstream acceptance yet, but it is headed there, and it is set to change the way we do business. Already, many companies have started to offer Bitcoin as a payment method, and it is normal for employers to offer cryptocurrency as a means of paying their workers.
Bitcoin is currently selling at $59,955 (BTC/USD), down just 0.09% from the previous day.
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