PayPal co-founder and renown Bitcoin critic Peter Thiel revealed that his biggest mistake of the decade was getting too late and too little into Bitcoin.
The entrepreneur and venture capitalist revealed his sentiments in a discussion published on March 12, 2022, where he explained how he built PayPal.
The Bitcoin Secret is Now Known to Everybody: Peter Thiel
It is not the first time that entrepreneur and venture capitalist Thiel has expressed his regret of underinvesting in Bitcoin. Last October, he said the same thing at an evening event in Miami. Bitcoin had just hit an all-time high. Thiel stated that one is supposed just to buy Bitcoin and that he felt like he had been underinvested in it.
During the same event, PayPal co-founder Peter Thiel revealed that his hesitation in investing in the leading cryptocurrency now is that the secret is known to everybody. For this reason, he may feel that it is too late to buy big in Bitcoin.
Last month, a book called “The Founders” written by Jimmy Soni was published. It states that it is telling the story of PayPal and the entrepreneurs who shaped Silicon Valley. The book’s discussion prompted pro-Bitcoin entrepreneur Peter Thiel’s make the comments. However, the conversation managed to shift to the subject of cryptocurrencies.
The discussion host stated that the whole crypto thing was going on amidst PayPal’s rise. He continued that pro-Bitcoin entrepreneur Thiel had spoken about crypto in the past and asked what the group thought about payment systems now and crypto.
Thiel Did not See Bitcoin as Much as He Should Have
In answering the question, entrepreneur and venture capitalist Thiel revealed he regressed getting too late and too little into Bitcoin. He explained that the group invested in 2014 in the Founders Fund, and it yielded significant returns. Thiel stated that cryptocurrency was also on his radar around that time, and he was super interested in it. However, what held him back was that none of the models quite worked.
PayPal co-founder Peter Thiel said that with Bitcoin, he was somehow programmed not to see it as much as he should have. It is the ultimate regret, considering how the leading cryptocurrency catapulted in price. Early investors are enjoying good returns now.
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