Peter Thiel Says His ‘Biggest Mistake of the Decade Was Getting Too Late and Too Little Into Bitcoin’ – Featured Bitcoin News

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Dur­ing a dis­cus­sion pub­lished on March 12, 2022, the bil­lion­aire entre­pre­neur and ven­ture cap­i­tal­ist, Peter Thiel dis­cussed how he built Pay­pal with fel­low co-founders Max Levchin, David Sacks, and Luke Nosek. Toward the end of the hour-long con­ver­sa­tion, the top­ic quick­ly turned to cryp­tocur­ren­cies and Thiel stressed that his “biggest mis­take” dur­ing the last ten years “was get­ting too late and too lit­tle into bitcoin.” 

Paypal Co-Founder Peter Thiel Reveals the Biggest Mistake He’s Made in the Last Decade

Last week, the new book dubbed “The Founders” writ­ten by Jim­my Soni was dis­cussed at great length dur­ing a pan­el con­ver­sa­tion with the co-founders of Pay­pal. The book called “The Founders: The Sto­ry of Pay­pal and the Entre­pre­neurs Who Shaped Sil­i­con Val­ley,” was pub­lished last month and the sto­ry gives an account of Paypal’s origins.

The callin.com broad­cast pub­lished on March 12, fea­tures the Pay­pal co-founders Peter Thiel, Max Levchin, David Sacks, and Luke Nosek. While most of the con­ver­sa­tion touch­es on the Pay­pal ori­gins top­ic, at the 55:30 mark, the dis­cus­sion turned to cryp­tocur­ren­cies. The host of the dis­cus­sion man­aged to squeeze in one more ques­tion, as he said “it would not be a tech con­ver­sa­tion with­out a lit­tle bit of wild-eyed for­ward-look­ing statements.”

The dis­cus­sion host explained that amid Paypal’s rise, a “whole cryp­to thing going on” and he high­light­ed how Peter Thiel has “writ­ten and spo­ken a lot about it.” When asked what the group thinks about “pay­ment sys­tems now and cryp­to,” Thiel respond­ed. The Pay­pal co-founder remarked:

The biggest mis­take I made in the last decade was get­ting too late and too lit­tle into bitcoin.

While Thiel Was Super Interested in Bitcoin, He ‘Was Somehow Programmed to Not to See It’

Thiel explained fur­ther: “You know, we invest­ed in 2014 in Founders Fund and did rea­son­ably well, but it was on my radar in 2010 and 2011 — We had seen all these crazy cryp­tocur­ren­cy peo­ple, at the time at Pay­pal, it was one of the things that I was actu­al­ly super inter­est­ed in and it moti­vat­ed me, but none of the mod­els quite worked.” Thiel fur­ther added:

With bit­coin, I was some­how pro­grammed to not to see it as much as I should have.

The Pay­pal co-founder’s state­ments last week are sim­i­lar to the dec­la­ra­tions he made in Octo­ber. Speak­ing at a cryp­tocur­ren­cy event in Mia­mi last year, Thiel told par­tic­i­pants that he felt like he was “under­in­vest­ed in [bit­coin].” Speak­ing fur­ther on the ben­e­fits of bit­coin in Mia­mi, Thiel stressed that bit­coin was “the canary in the coal mine — It’s the most hon­est mar­ket we have in the country.”

Tags in this story
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What do you think about the Pay­pal co-founder Peter Thiel’s state­ments about bit­coin and his remorse for not get­ting into it much soon­er? Let us know what you think about this sub­ject in the com­ments sec­tion below. 

Jamie Redman 

Jamie Red­man is the News Lead at Bitcoin.com News and a finan­cial tech jour­nal­ist liv­ing in Flori­da. Red­man has been an active mem­ber of the cryp­tocur­ren­cy com­mu­ni­ty since 2011. He has a pas­sion for Bit­coin, open-source code, and decen­tral­ized appli­ca­tions. Since Sep­tem­ber 2015, Red­man has writ­ten more than 5,000 arti­cles for Bitcoin.com News about the dis­rup­tive pro­to­cols emerg­ing today.




Image Cred­its: Shut­ter­stock, Pix­abay, Wiki Commons

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