7th April, 2021 Peter Thiel: Bitcoin Could Be 'Chinese Financial Weapon'
PayPal founder Peter Thiel, in a seminar on Big Tech and China, said China's approach to its own cryptocurrency should concern America.
He dismissed the digital yuan, which would be issued by China's central bank, as "some sort of a totalitarian measuring device."
The real concern, Thiel said, is Bitcoin, because it's more likely to serve as a functional reserve currency. The less dominant the dollar is, the less effected it is by American monetary and foreign policy.
“It threatens fiat money, but it especially threatens the U.S. dollar,” he added.
Pompeo agreed that a digital yuan "has a huge impact for [China's] surveillance capacity," though he seemed to assert that such a coin itself would also allow it to make cross-border transactions that could skirt US sanctions: "They want to make sure that when Secretary Pompeo issues sanctions against the Iranian leadership, that there is a way to purchase Iranian oil."