Peter Thiel Says His “Biggest Mistake Of The Decade Was Being Too Late And Too Little In Bitcoin”

In a chat posted on March 12, 2022, billionaire entrepreneur and venture capitalist Peter Thiel explained how he built Paypal with his co-founders Max Levchin, David Sacks and Luke Nosek. Towards the end of the hour-long conversation, the subject quickly turned to cryptocurrencies and Thiel pointed out that his “biggest mistake” over the past ten years “was coming too late and too little. in bitcoin”.

Paypal co-founder Peter Thiel reveals the biggest mistake he’s made in the past decade

Last week, the new book entitled “The Founders” written by Jimmy Soni was discussed at length during a roundtable with the co-founders of Paypal. The book, “The Founders: The Story of Paypal and the Entrepreneurs Who Shaped Silicon Valley,” was released last month and the story chronicles the origins of Paypal.

The callin.com show published on March 12 features Paypal co-founders Peter Thiel, Max Levchin, David Sacks and Luke Nosek. While most of the conversation is on the subject of Paypal’s origins, at 55:30 the discussion turned to cryptocurrencies. The moderator of the discussion managed to ask an additional question, as he said that “it wouldn’t be a technical conversation without a bit of crazy-eyed forward-looking statements.”

The chat host explained that amid Paypal’s rise, “a whole crypto thing is going on” and he pointed out how Peter Thiel has “written and spoken a lot about it.” When asked what the group thinks about “payment systems now and crypto,” Thiel responded. The Paypal co-founder remarked:

The biggest mistake I made over the last decade was being too late and too little into bitcoin.

While Thiel was very interested in Bitcoin, he “was kind of programmed not to see it”

Thiel explained further: “You know, we invested in 2014 in Founders Fund and did reasonably well, but that was on my radar in 2010 and 2011 – We had seen all these cryptocurrency crazies, at the time at Paypal, it was one of the things that really interested me a lot and it motivated me, but none of the models really worked. Thiel added:

With bitcoin, I was kind of programmed not to see it as much as I should have.

The Paypal co-founder’s statements last week are similar to statements he made in October. Speaking at a cryptocurrency event in Miami last year, Thiel told attendees he felt like he was “underinvested in [bitcoin].” Speaking further on the benefits of bitcoin in Miami, Thiel pointed out that bitcoin was “the canary in the coal mine – It’s the most honest market we have in the country.”

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What do you think of Paypal co-founder Peter Thiel’s statements about bitcoin and his remorse for not getting into it sooner? Let us know what you think about this topic in the comments section below.

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Jamie Redman

Jamie Redman is the news manager for Bitcoin.com News and a fintech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written over 5,000 articles for Bitcoin.com News about disruptive protocols emerging today.




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Peter Thiel Says His “Biggest Mistake Of The Decade Was Being Too Late And Too Little In Bitcoin”


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