Quote from: coinkeke on March 19, 2018, 09:13:45 PM

The billionaire venture capitalist is doubling down on BTC, likening the digital coin to golds online equal.

Thiel touts the No. 1 cryptocurrency for its size and its ability to compete with gold as a safe haven, saying at the Economic Club of New York:

I would be long bitcoin, and neutral to skeptical of just about everything else at this point with a few possible exceptions. There will be one online equivalent to gold, and the one youd bet on would be the biggest, said Thiel.

But with the exception of a few digital coins, Thiel remains neutral on the rest of the cryptocurrency pack. He didnt dismiss the possibility that bitcoin could be surpassed by Ethereum or other altcoins that prey on the leading cryptocurrencys weaknesses, but bitcoins strength is in its size.

Bitcoin controls more than 40% of cryptocurrency market cap compared to almost one-fifth for Ethereum, as per Coin Market Cap data cited in CNBC.

Bitcoin as gold.... Its comparison has very marked differences and is that unlike gold, the price of bitcoin is not constant, its volatility has made it unpredictable and despite being an investment that has long tended to grow, in the short term it has suffered multiple recessions, In addition, it is still a high risk investment because we do not know if it will pass the test of its value over time.

So it's not the best comparison...

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