«PayPal had these goals of creating a new currency. We failed at that, and we just created a new payment system. I think Bitcoin has succeeded on the level of a new currency, but the payment system is somewhat lacking. It’s very hard to use, and that’s the big challenge on the Bitcoin side», said Peter Thiel, a co-founder of PayPal and Facebook investor.
The entrepreneur also said that people underestimate Bitcoin and that it is not worth comparing cryptocurrency with gold, as the digital currency has become much more significant lately. Therefore, Peter Thiel invested about $20 million in 2017, after which the price of Bitcoin rose sharply.
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