|

Bitcoin 2022: Thiel calls Buffett 'sociopathic', Mexican billionaire has 60% in BTC

The Bitcoin 2022 conference was packed with new announcements, however Peter Thiel stole the show by throwing $100 bills into the crowd and calling Warren Buffet a “sociopathic grandpa.”

Day two of the Bitcoin 2022 in Miami was as colorful as we’ve come to expect, with Pay-Pal co-founder and venture capitalist Peter Thiel offering up his Bitcoin “enemies list” while Mexico’s third-richest man, Ricardo Salinas revealed he has 60% of his portfolio in Bitcoin. 

Thiel, one of the keynote speakers, took to the main Nakamoto stage of the conference in the early afternoon and kicked the speech off in style by throwing a wad of $100 bills into the crowd in an attempt to explain the difference between crypto and government-backed fiat currency.

As the crowd quickly reached for the money, Thiel joked, “I thought you guys were supposed to be itcoin maximalists.”

He then gave an energizing pro-Bitcoin speech in which he predicted that Bitcoin would increase 100-fold from today’s price and that traditional finance markets would eventually crumble.

The central banks are going bankrupt. We are at the end of the fiat money regime.

Thiel also offered up his enemies list in which he gave legendary Berkshire Hathaway investor Warren Buffett the top spot, labeling him “Enemy No.1”. Thiel called Buffett a “sociopathic grandpa” — obviously taking issues with the Berkshire Hathaway CEO’s Bitcoin-critical commentary.

Thiel’s list also included JPMorgan Chase CEO, Jamie Dimon and Blackrock CEO, Larry Fink, denouncing the group of billionaires for running a “gerontocracy” — a society ruled by old people — against cryptocurrency.

Later in the day Mexican billionaire, Ricardo Salinas used his 15 minutes on the main stage to take aim at bonds and announce that he currently holds 60% of his entire liquid investment portfolio in Bitcoin — a considerable increase from the 10% that he held in Dec. 2020.

I definitely don’t have any bonds… I have 60% in Bitcoin and Bitcoin equities, and then 40% in hard asset stocks like oil and gas and gold miners, and that’s where I am.

Salinas, whose net-worth is estimated to be roughly $12.8 billion, was an early investor in Bitcoin. In an interview with Cointelegraph, Salinas said that he purchased his first Bitcoin in 2013, when the average price was roughly $200 a piece.

Earlier in the day, Samson Mow, the former chief strategy officer of Blockstream, announced two new jurisdictions would be moving to adopt Bitcoin as legal tender. The Caribbean island of Roatán and Madeira, an autonomous region of Portugal confirmed that they will be adopting BTC as legal tender. Mexico is also reportedly considering the move.

El Salvadoran president, Nayib Bukele was scheduled to speak second-last on Thursday, however the Bitcoin Conference officially announced his withdrawal on Twitter on April 7, quoting “unforeseen circumstances.” There is currently a state of emergency in the country due to spiraling gang violence.

Day 3 of the Bitcoin 2022 conference will feature more talks from high-profile guests including a fireside talk with famous psychologist Jordan Peterson, a keynote speech from legendary investor Mike Novogratz, as well as a presentation by Thiel Capital director, Eric Weinstein.

Author

Cointelegraph Team

Cointelegraph Team

Cointelegraph

We are privileged enough to work with the best and brightest in Bitcoin.

More from Cointelegraph Team
Share:

Editor's Picks

Crypto Today: Bitcoin, Ethereum, XRP trade under sustained selling pressure despite mild ETF inflows

Cryptocurrency prices remain under pressure as a risk-off mood persists on Friday, with Bitcoin consolidating its losses above $62,000. Altcoins, including Ethereum and Ripple, are extending their weakness, trading near lower support levels around $1,600 and $1.12, respectively.

Bitcoin Weekly Forecast: After the bloodbath, everyone looks at $60,000

Bitcoin (BTC) hovers above $62,000 at the time of writing on Friday, weighed down by growing risk-off sentiment due to persistent geopolitical tensions in the Middle East and sticky macroeconomic uncertainty.

Cardano hits five-year low even as Hoskinson clarifies "break" isn't an exit

Cardano price is down 10% at press time on Friday, extending losses over 30% so far this week amid Charles Hoskinson's clarification that "break" isn't an exit. A reactionary spike in on-chain activity and social chatter, reflecting a strength of community, but fails to absorb the price decline.

Arthur Hayes' “Holy Trinity” is dead: Exits Zcash after Orchard Pool exploit

Arthur Hayes dumped his entire Zcash holdings on Friday, a day after selling his HYPE and NEAR holdings. Zcash is down 13% so far on Friday, extending the 26% drop from the previous day.

Bitcoin: After the bloodbath, everyone looks at $60,000
Bitcoin (BTC) hovers above $62,000 at the time of writing on Friday, weighed down by growing risk-off sentiment due to persistent geopolitical tensions in the Middle East and sticky macroeconomic uncertainty. The institutional sell-off continued to wreak havoc on capital flows, with spot Bitcoin Exchange-Traded Funds (ETFs) recording billions in outflows.