The battle over bitcoin’s evolving role just became a piece in a complex game of political strategy.
Peter Thiel’s talk earlier this week at a Richard Nixon Foundation event thrust the cryptocurrency even further out onto the geopolitical stage and highlighted two important macro narratives that investors should keep an eye on and not just for their potential impact on crypto returns.
Here’s one extract from his comments:
“I do wonder whether bitcoin should be thought of as a Chinese financial weapon against the U.S. It threatens fiat money, but it especially threatens the U.S. dollar.”
As with most things in life, context is key, and this statement is crying out for it. Read more…..
Chart of the Day
Warren Buffett explains the benefits of reading annual reports. From the 1996 Berkshire Hathaway annual meeting.