Multimillionaire Investor Peter Thiel praised Bitcoin and US President Donald Trump while criticizing liberal-leaning big cities and Democrats during a talk at the Economic Club of New York.
The board member of Facebook Inc. on Thursday said that bitcoin will become more important, squeezing Ethereum and other newer cryptocurrencies. His venture company, Founders Fund, bought Bitcoin in silence since 2012.
Thiel compared bitcoin with a digital version of gold and argued that the quest to ambad money "is the bubble that never appears".
Thiel, who recently moved to Los Angeles from San Francisco to escape what he called a group mentality, said cities in the United States are ripe for innovation and good for startups because housing prices They are more reasonable.
Thiel also praised Trump for his ability to re-frame issues such as trade with China and promote economic growth through tax cuts. If Trump decides to run for reelection in 2020, he will win because the Democrats have not managed to move from the "hatred factory" of anti-Trump rhetoric to focus on the problems, the investor added.