PayPal co-founder Peter Thiel regrets not buying more crypto when it was still a bargain, reports an article in Bloomberg. Thiel was quoted at the National Conservatism Conference as saying that cryptocurrency’s high prices are an indication that the economy is facing real inflation, and criticized the Fed for not recognizing the seriousness of the situation and tackling inflation sooner.
Thiel went on to say that the Fed is in a state of close-mindedness, focusing on the theory that it can print money without triggering inflation, the article continues. In regards to Bitcoin, “I’m not sure that one should aggressively buy” at such high prices, Thiel contends, and expressed regret in not buying more of it.
Thiel is well-known for his support of conservatives, having poured $10 million into super PACs in support of Republican candidates, including venture capitalist and author JD Vance from Ohio and Blake Masters from Arizona, who heads both Thiel Capital and the Thiel Foundation.