Peter Thiel calls Warren Buffett, Jamie Dimon, and Larry Fink a ‘finance gerontocracy’ and ‘enemies of bitcoin’

Billionaire entrepreneur Peter Thiel on Thursday called billionaire investor Warren Buffett a top “enemy” of bitcoin and part of a “finance gerontocracy” that has held back the cryptocurrency’s adoption.

Billionaire entrepreneur Peter Thiel on Thursday called billionaire investor Warren Buffett a top “enemy” of bitcoin and part of a “finance gerontocracy” that has held back the cryptocurrency’s adoption.

Bitcoin BTCUSD, +0.13% could have a market capitalization that matches the $12 trillion gold market and even the $115 trillion public equity market, Thiel said at the Bitcoin 2022 conference in Miami on Thursday. 

But a group that the outspoken venture capitalist referred to as the “finance gerontocracy” has suppressed bitcoin’s adoption, said Thiel, who called Buffett a “sociopathic grandpa from Omaha.” Buffett is the chairman and chief executive of Omaha-based Berkshire Hathaway Inc.

Thiel’s list also included Jamie Dimon, chief executive of JPMorgan Chase & Co. JPM, -0.30% and Larry Fink, chief executive of BlackRock Inc. 

“Why bitcoin has not yet gone up to $100,000 to a million dollars? Why has it not yet converged with gold or or even with the equity markets more broadly?” Thiel said. 

“It’s a movement as a political question, whether this movement is going to succeed, or whether the enemies of the movement are going to succeed in stopping us.”

A JPMorgan spokesperson declined to comment. Spokespersons for Berkshire Hathaway and BlackRock didn’t respond to requests for comment.

Bitcoin BTCUSD, +0.13% could have a market capitalization that matches the $12 trillion gold market and even the $115 trillion public equity market, Thiel said at the Bitcoin 2022 conference in Miami on Thursday. 

But a group that the outspoken venture capitalist referred to as the “finance gerontocracy” has suppressed bitcoin’s adoption, said Thiel, who called Buffett a “sociopathic grandpa from Omaha.” 

Buffett is the chairman and chief executive of Omaha-based Berkshire Hathaway Inc.

Thiel’s list also included Jamie Dimon, chief executive of JPMorgan Chase & Co. JPM, -0.30% and Larry Fink, chief executive of BlackRock Inc. 

“Why bitcoin has not yet gone up to $100,000 to a million dollars? Why has it not yet converged with gold or or even with the equity markets more broadly?” 

Thiel said. “It’s a movement as a political question, whether this movement is going to succeed, or whether the enemies of the movement are going to succeed in stopping us.”

A JPMorgan spokesperson declined to comment. Spokespersons for Berkshire Hathaway and BlackRock didn’t respond to requests for comment.








Previous Post Next Post