Tech billionaire Peter Thiel says he 'underinvested' in bitcoin.
co-founder Jack Dorsey have shown support for the cryptocurrency. Bitcoin's price has been incredibly volatile over the last few years and many have warned that it presents a big risk to investors.
Thiel went on to say that his only hesitation when it comes to investing in bitcoin was that he thought "the secret was already known by everybody," according to Bloomberg. "I think the answers are still to go long" on bitcoin, Thiel added, before saying "maybe it still is enough of a secret." At a separate event on Monday, the billionaire said the stratospheric price of bitcoin is one of the clearest indicators that the current political system is unstable,"I don't know that you should put all your money into bitcoin at $60,000 a bitcoin right now," Thiel said.
"But surely the fact that it is at $60,000 is an extremely hopeful sign. It's the canary in the coal mine. It's the most honest market we have in the country, and it's telling us that this decrepit … regime is just about to blow up."
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