People are “underestimating” bitcoin and it has “great potential left,” billionaire investor Peter Thiel said on Thursday.
Speaking at the Future Investment Initiative in Riyadh, Saudi Arabia, Thiel compared the cryptocurrency bitcoin to gold.
“I’m skeptical of most of them (cryptocurrencies), I do think people are a little bit … underestimating bitcoin especially because … it’s like a reserve form of money, it’s like gold, and it’s just a store of value. You don’t need to use it to make payments,” Thiel said. […]