Peter Thiel says Bitcoin at $60,000 is a sign of inflation

The high price of Bitcoin indicates that the economy is facing real inflation. This view was expressed by PayPal co-founder Peter Thiel, Bloomberg reports.

Speaking at the Conference on National Conservatism, the billionaire said that price increases are not a temporary phenomenon. He criticised the U.S. Federal Reserve for not fighting inflation and not understanding its seriousness.

“You know, Bitcoin is already at $60,000, and I’m not sure it should be bought aggressively. But this certainly tells us that we’re in a crisis moment,” Thiel said.

According to him, the Fed does not even realise there is a problem and wrongly believes it can print money without negative consequences for price growth.

Thiel again expressed regret that he did not invest more money in the first cryptocurrency.

Earlier, Twitter chief Jack Dorsey said hyperinflation is coming, which will change everything around.