The Chinese government may be supporting bitcoin as a means to undermine the foreign and monetary policy of the United States, PayPal co-founder and venture capitalist Peter Thiel has said. He added that Beijing has tried to use the euro in the same way. Speaking at a virtual event hosted by the Richard Nixon Foundation, Thiel, who is a major investor in virtual currency ventures as well as in cryptocurrencies themselves, said that the US should consider tighter regulations on cryptos. While commenting on whether China’s central bank-issued digital currency (CBDC) could threaten the US dollar’s status as a global reserve currency, the
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