Thiel Capital managing director Eric Weinstein has argued that Bitcoin should be recommended more often as a way to hedge against a potential FIAT crash.
He argued that short-term losses on Bitcoin should not be a reason for consumers to turn away from the currency and encouraged more casual hodlers to stick around despite “Bitcoin zealots”.
Speaking to his audience of 485,000-strong Twitter followers, Weinstein didn’t hesitate to name central bankers as “a group of people who get into trouble and reach for the same tool. Over and over”.
Weinstein argued that neither Bitcoin nor gold were perfect, but he highlighted the threat of the “printing press” and “calls for relief and stimulus”. Already, there have been conversations about BItcoin’s role as a deflation hedge.
In fact, BItcoin is definitely biting into what has been considered gold’s exclusive preserve as a vessel for storing wealth.
In the meantime, Weinstein remains convinced that whoever is interested in Bitcoin should stop measuring their wealth in US dollars compared to how much Bitcoin they own.