Peter Thiel Says High BTC Price is An Indicator of Real Inflation

PayPal’s billionaire co-founder, Peter Thiel has shared his opinion about the current near-record high Bitcoin prices. According to Bloomberg report, Thiel believes that this goes to show that inflation is not transitory.

But even with his submission, the tech mogul does not necessarily agree to aggressive buying of Bitcoin at the moment.

Peter Thiel said; “You know, $60,000 Bitcoin, I’m not sure that one should aggressively buy.”

Meanwhile, just last month, Thiel described the high crypto prices as “the canary in the coal mine” claiming that it was an early sign of potential danger with the present regime.

In his recent remarks, the billionaire also bashed the U.S. Federal Reserve for ignoring inflation.

Fed Chairman Jerome Powell said it might take a little longer than expected for elevated inflation rates to come down. Although, Powell remains positive about the central bank deploying a range of tools at its disposal in order to bring inflation back down to the 2% level.

Powell insists that the Federal reserve will undoubtedly use all of its tools in guiding inflation back down to 2%.

Peter Thiel on BTC Price As It Sees Highest-ever Monthly Close

As we reported here at TheCoinrise, Thiel recently shared his regrets about not buying enough Bitcoin at cheaper prices.

In October, Bitcoin closed at $61,355, marking the highest monthly candle in the history of the cryptocurrency. This means that as at the time of writing, Bitcoin is down 9.6% from its all-time high of $67,276.