Peter Thiel Says His ‘Biggest Mistake of the Decade Was Getting Too Late and Too Little Into Bitcoin’.
Last week, the new book titled “Founders” written by Jimmy Soni was discussed a lot in conversation with Paypal co-founders. The book is the story of Paypal and the entrepreneurs who shaped Silicon Valley, published last month, and the story tells the history of Paypal.
Callin.com aired the show on March 12, featuring Paypal co-founders Peter Thiel, Max Levchin, David Sacks, and Luke Nosek. While most of the conversation was on the subject of PayPal origin, the topic turned to crypto at the end of the conversation.
The panelist managed to bring up one more question, which, as he puts it, “wouldn’t be a tech conversation without a little forward-looking statement.”
The host explained that in the wake of Paypal, “the whole crypto thing is going on” and he highlighted how Thiel has “written and talked a lot about it.” The question for founders is what to think about “current payment systems and cryptocurrencies”? Paypal co-founder commented:
The Biggest Mistake I Made In The Last Decade Was Realizing Too Late And Investing Too Little In BITCOIN.
Thiel further explains: “You know, we invested in Founders Fund back in 2014 and it was doing pretty well, but that was on my radar from 2010 and 2011. We saw all the people. crazy about crypto, at a time when at Paypal it was one of those things that I was really super interested in and it motivated me, but none of the models worked.”
This statement is similar to what Thiel made last October at a crypto event in Miami that he felt like he was “not invested in Bitcoin yet.” Talking more about the benefits of Bitcoin, Thiel emphasized that it is “the canary in the coal mine – It is the most honest market we have.”