The recent statements by Peter Thiel, co-founder of PayPal, were by no means reasonable and subtle compared to other naysayers who are generally considered out of the box on crypto. This framed a series of words that go beyond a simple disqualification, clearly dragged with his prayers to Bitcoin (BTC) to a field to turn it into an agent of debate between various topics that transform it from being a player to a progressive consequence of an invasive deterioration.
Part of his words were emphasized in concluding that "Bitcoin should be considered as a Chinese financial weapon against the United States. It threatens fiat money, but especially threatens the US dollar."
We must take several data before constructing an objective and methodical analysis focused on this statement. It is important to note that global dollar reserves fell to levels close to 60%, data from the International Monetary Fund (IMF). China, through the People's Bank of China (PBOC) has authorized the entry of gold to the Commercial Banks, basically the entry of this metal without restrictions by the Asian giant, possible support towards a Yuan, the digital one, perhaps. Certainly these and others are some compelling reasons to have a clear concern in the geopolitical terrain of the dollar and its role as a store of value.
Even when it has been said that the impact would not discredit the dollar so much, but would take part of its territory as a reserve currency, China's strategy to develop a digital unit of account positions it as the executor of a strategy that leaves it very well stopped before a possible inflationary / depressive scenario that would already take considerable levels.
However, involving troubled BTC at these levels I think shouldn't be that worrisome. The reason for this currency is that not only does its value grow, as it has a limited supplement, it is its essence that is now in formation, at this point, as a store of value that links that trust with the support of technologies such as blockchain. A threat that is not involved in backward policies and its decentralized management makes it immune to vague terms of monetary policies.
BTC is not an intimate enemy or a Trojan horse, unfortunately we all knew that the journey would be difficult and that objectivity would be a missing agent in degrading criticisms. If you now have such statements as those offered by Thiel, then the work and growth of BTC are progressing. Simply these words only seek to create a wave of misinformation and doubt to delay something that is known to be unstoppable.
Since February 2020 we have read how much money has been printed, trillions of dollars to stabilize a stagnant economy that does not respond to the brittle rules of the current system. Even so, part of many reserves have not experienced this overflow in market prices, but rather a growth in support for BTC and its increase in market capitalization.
Dragging the BTC to political terrain of globalist levels does not weaken it, it makes it stronger and stronger, but in relation to fiat currencies, these will not have much impact in this digital stage. The key point of the Yuan and its possible backing in gold will change the rules and the protagonists, it is at this point that the BTC will enter a quite interesting scene and once again demonstrate everything that is not granted by its detractors. Now, Trojan horse or not, it is very far from taking this definition, this is more associated with a territorial scenario and market finance.
I leave at the end of this writing the link of two excellent articles that narrate a more complete perspective on the dynamics of gold, China and the role of Bitcoin, friend, enemy, Trojan or simply an agent that they only manipulate to achieve their discrediting objectives.
https://www.zerohedge.com/markets/china-readying-gold-backed-yuan
https://www.coindesk.com/peter-thiel-china-weaponizing-bitcoin-politics
This information is your own content and there is no room for plagiarism. You can also see this article posted on my Publish0x blog under the following link that I leave at the end of this paragraph.
https://www.publish0x.com/cryptographic-alchemy/troy-horse-xgprmxo
