China Could Use Bitcoin as 'Financial Weapon' Against U.S., Peter Thiel Warns

The noted China critic also slammed U.S. companies that did business in the country.

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April 8, 2021 2 min read

Speaking at a virtual event for the Richard Nixon Foundation on Tuesday, PayPal co-founder Peter Thiel cautioned that China could potentially use Bitcoin as a “financial weapon” against the U.S., Bloomberg first reported

Thiel, a well-known proponent of cryptocurrency, appeared to tamper down his enthusiasm surrounding digital currency when speaking on U.S.-China relations. 

Related: The Chinese challenge to Bitcoin is ready. The Central Bank distributes 1.5 million

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