Thiel's Contradictory Opinions on Bitcoin: From Genius to Organized Deception

Historical documents reveal that Peter Thiel has been monitoring Bitcoin’s development since its early days in 2011, when its price was only a few cents and it was known only to a select few technology enthusiasts. What is surprising is the dramatic shift in Thiel’s stance over the following years.

How Have Thiel’s Views on Digital Currencies Evolved?

Initially, Thiel acknowledged the genius of Bitcoin’s underlying infrastructure. In 2011, he stated that the project carried an innovative vision, but he criticized its technical and practical aspects. This balanced assessment did not reflect outright opposition but showed genuine interest in the technology’s evolution.

However, his position changed dramatically three years later. In 2014, he sent a direct message to another billionaire to correct a common misconception: Bitcoin is not a currency in the traditional sense but a financial asset with different characteristics. This statement was sensitive, as Thiel aimed to shape the public discourse about the nature of these assets.

The Gap Between Words and Actions

What is truly noteworthy is Thiel’s stance in 2017. When directly asked whether he recommends buying Bitcoin, he answered “No.” This rejection was public and clear, even as prices were rising sharply.

This sequence reveals an important truth: Thiel was not keen on disseminating information but was operating with a trader’s mindset, seeking to maintain a competitive advantage. Although he had investments since 2011, he was convincing others not to invest, attempting to keep prices relatively low for his own benefit.

The Impact of Deception on New Investors

These behavioral patterns had a real impact on cryptocurrency markets. New investors relying on influential figures like Thiel missed out on significant investment opportunities. The public discourse was influenced by statements from celebrities, some of whom used their platforms not to spread knowledge but to protect their own interests.

Ultimately, the lesson for market observers is the importance of distinguishing between an impartial analyst and a trader with personal stakes. Thiel operated according to the latter logic, viewing Bitcoin as a means for personal profit rather than a genuine technological revolution deserving public support.