Peter Thiel, the billionaire co-founder of PayPal and software and data analytics company Palantir, has named Berkshire Hathaway CEO Warren Buffett as Bitcoin’s “number one enemy.”
Thiel’s remarks about Buffett and others on his “enemy list” came during the Bitcoin 2022 conference in Miami. In his keynote address, he said the person with the most negative and blunt public opinion about cryptocurrencies is the American investment titan and corporate chief.
The PayPal co-founder said it was time to call out those who are trying to block Bitcoin adoption, placing the “sociopathic grandfather from Omaha,” a clear reference to Buffett, at the top of that list.
One of Buffett’s earlier comments about Bitcoin described it as “rat poison,” and he has said he would never own the cryptocurrency.
“Deeply political” choices
In addition to Buffett, Thiel criticized Jamie Dimon, CEO of JPMorgan, and Larry Fink, CEO of BlackRock, the world’s largest asset manager.
He argued that the lack of investment by these funds and banks stems from institutional and political biases on Wall Street. According to Thiel, many financial and investment leaders are willing to promote blockchain benefits in general, but when it comes to Bitcoin itself they label it worthless and risky.
“They need to allocate some of their funds to bitcoin,” he observed, adding that the crypto community must “push back” to make that happen.
He described the decision to exclude Bitcoin as a choice that is “deeply political” rather than a reflection of any real lack of understanding of the technology.
Thiel believes Bitcoin’s value will continue to rise exponentially in the future, and he said the community’s efforts to counter false narratives are key to achieving that. He argued that this is precisely what Bitcoin needs to see another “10- or 100-fold increase from here.”
On Friday, Bitcoin traded at roughly $43,000, about 5% lower than the previous week. The cryptocurrency has pulled back from a $48,000 peak amid broader market shifts. In November 2021, Bitcoin reached its all-time high above $69,000.