London Daily

Focus on the big picture.
Sunday, Aug 24, 2025

Peter Thiel: Bitcoin will 'never be' controlled by government, unlike 'woke companies'

Peter Thiel: Bitcoin will 'never be' controlled by government, unlike 'woke companies'

Thiel made the comment at the Bitcoin 2022 conference, where he explained the difference between fiat money and cryptocurrency

PayPal and Palantir Technologies co-founder Peter Thiel said Thursday that Bitcoin will "never be" controlled by the government, unlike "woke companies."

Thiel made the comment at the Bitcoin 2022 conference, where he explained the difference between fiat — or government-backed — money and cryptocurrency. He threw a wad of $100 bills to someone in the first row of the audience to make his point.

"Even being in a stock, you're effectively being in something that's like a government-linked entity. Companies — woke companies — are sort of quasi-controlled by the government in a way that Bitcoin never will be," he said.

The tech investor opened his remarks with a video from 1999 in which he makes the claims that "everyone in the middle class" and the "developing world" would eventually have "internet-enabled cellphones" — an idea that seemed impossible to some at the time. He went on to predict that access to bank accounts via cell phones would threaten authoritarian governments.

Today, Thiel and other cryptocurrency investors argue that Bitcoin is the solution to such power because it is not controlled by anyone except those who own it.

Peter Thiel, co-founder of PayPal, Palantir Technologies, and Founders Fund, holds hundred dollar bills as he speaks during the Bitcoin 2022 Conference at Miami Beach Convention Center on April 7, 2022 in Miami, Florida.


"The real competitor for Bitcoin is not Ethereum. That's a payment system. It's not even gold. It's something like the S&P 500. It's the stock market as a whole. This is the way Bitcoin trades every day," said Thiel, who made his name, in part, by being the first outside investor in Facebook.

While it is "always hard" to envision the future of Bitcoin, Thiel continued, he believes Bitcoin is the "most honest" and "most efficient" market in the world, calling it "the canary in the coal mine" that predicted record-high inflation.

The venture capitalist also listed CEOs Jamie Dimon, Warren Buffet and Larry Fink as the "enemies" of Bitcoin, saying they have an "institutional bias" against the world's most popular cryptocurrency. He likened Wall Street to geriatrics and cryptocurrency to youth.

Peter Thiel, co-founder of PayPal, Palantir Technologies, and Founders Fund, holds hundred dollar bills as he speaks during the Bitcoin 2022 Conference at Miami Beach Convention Center on April 7, 2022 in Miami, Florida.


An estimated 25,000 people flooded to the Bitcoin 2022 conference in South Beach, Miami, to learn more about cyrptocurrency and fintech companies, network with like-minded individuals, and discuss the future of Bitcoin as a mainstream form of currency.

Miami has been dubbed the "crypto capital" of the United States and even the world as it attracts a growing number of tech entrepreneurs, investors and startups.

Newsletter

Related Articles

0:00
0:00
Close
Deputy Prime Minister Angela Rayner Purchases Third Property Amid Housing Tax Reforms Debate
HSBC Switzerland Ends Relationships with Over 1,000 Clients from Saudi Arabia, Lebanon, Qatar, and Egypt
Sharia Law Made Legally Binding in Austria Despite Warnings Over 'Incompatible' Values
Italian Facebook Group Sharing Intimate Images Without Consent Shut Down Amid Police Investigation
Dutch Foreign Minister Resigns Amid Deadlock Over Israel Sanctions
Trump and Allies Send Messages of Support to Ukraine on Independence Day Amid Ongoing Conflict
China Reels as Telegram Chat Group Shares Hidden-Camera Footage of Women and Children
Sam Nicoresti becomes first transgender comedian to win Edinburgh Comedy Award
Builders uncover historic human remains in Lancashire house renovation
Australia Wants to Tax Your Empty Bedrooms
MotoGP Cameraman Narrowly Avoids Pedro Acosta Crash at Hungarian Grand Prix
FBI Investigates John Bolton Over Classified Documents in High-Profile Raids
Report reveals OpenAI pitched national ChatGPT Plus subscription to UK ministers
Labour set to freeze income tax thresholds in long-term 'stealth' tax raid
Coca‑Cola explores sale of Costa coffee chain
Trial hears dog walker was chased and fatally stabbed by trio
Restaurateur resigns from government hospitality council over tax criticism
Spanish City funfair shut after serious ride injury
Suspected arson at Ilford restaurant leaves three in critical condition
Tottenham beat Manchester City to go top of Premier League
Bank holiday heatwave to hit 30°C before remnants of Hurricane Erin arrive
UK to deploy immigration advisers to West Africa to block fake visas
Nurse who raped woman continued working for a year despite police alert
Drought forces closures of England’s canal routes, canceling boat holidays
Sweet tooth scents: food-inspired perfumes surge as weight-loss drugs suppress appetites
Experts warn Britain dangerously reliant on imported food
Family of Notting Hill Carnival murder victim call event unmanageable
Bunkers, Billions and Apocalypse: The Secret Compounds of Zuckerberg and the Tech Giants
Ukraine Declares De Facto War on Hungary and Slovakia with Terror Drone Strikes on Their Gas Lifeline
Animated K-pop Musical ‘KPop Demon Hunters’ Becomes Netflix’s Most-Watched Original Animated Film
New York Appeals Court Voids Nearly $500 Million Civil Fraud Penalty Against Trump While Upholding Fraud Liability
Elon Musk tweeted, “Europe is dying”
Far-Right Activist Convicted of Incitement Changes Gender and Demands: "Send Me to a Women’s Prison" | The Storm in Germany
Hungary Criticizes Ukraine: "Violating Our Sovereignty"
Will this be the first country to return to negative interest rates?
Child-free hotels spark controversy
North Korea is where this 95-year-old wants to die. South Korea won’t let him go. Is this our ally or a human rights enemy?
Hong Kong Launches Regulatory Regime and Trials for HKD-Backed Stablecoins
China rehearses September 3 Victory Day parade as imagery points to ‘loyal wingman’ FH-97 family presence
Trump Called Viktor Orbán: "Why Are You Using the Veto"
Horror in the Skies: Plane Engine Exploded, Passengers Sent Farewell Messages
MSNBC Rebrands as MS NOW Amid Comcast’s Cable Spin-Off
AI in Policing: Draft One Helps Speed Up Reports but Raises Legal and Ethical Concerns
Shame in Norway: Crown Princess’s Son Accused of Four Rapes
Apple Begins Simultaneous iPhone 17 Production in India and China
A Robot to Give Birth: The Chinese Announcement That Shakes the World
Finnish MP Dies by Suicide in Parliament Building
Outrage in the Tennis World After Jannik Sinner’s Withdrawal Storm
William and Kate Are Moving House – and the New Neighbors Were Evicted
Class Action Lawsuit Against Volkswagen: Steering Wheel Switches Cause Accidents
×