Peter Thiel's Changing Tone on Bitcoin: BlackRock's Influence and Bitcoin's Future

Peter Thiel's shifting tone on Bitcoin raises questions about BlackRock's influence, sparking concerns about Bitcoin's decentralization and institutional co-option.

### Peter Thiel's Changing Tone on Bitcoin: From Sovereignty to Co-Optation
* 🐂 Peter Thiel, a billionaire with a net worth exceeding **$7.5 billion**, recently expressed a less bullish stance on Bitcoin, suggesting that BlackRock may have **co-opted the cryptocurrency**.
* 🕰 Thiel's tone on Bitcoin has evolved over the years. In a 1999 speech, he foresaw digital money as an **unstoppable force** that would grant individuals **sovereignty over their finances**.
* 🧠 In 2022, Thiel was optimistic about Bitcoin's potential, highlighting its **resistance to government control** and comparing it to a **revolutionary youth movement**.
* 🏦 However, in a 2024 video, Thiel revealed concerns that BlackRock and its CEO Larry Fink had "**surrendered to the anti-Bitcoin forces**" or that Bitcoin had been "**co-opted by them**".
* 📚 Thiel's influence in the tech and investment space is significant, having co-founded **PayPal** and made early investments in companies like **Facebook** and **SpaceX**.
* 🔒 One possible risk Thiel sees is the **centralization of Bitcoin** due to large institutional investors like BlackRock accumulating significant amounts of the cryptocurrency.
* Thiel's shifting stance on Bitcoin raises questions about his **motivations** and the **future of the cryptocurrency**.
* 📈 While some speculate that Thiel may be working on his own cryptocurrency, others believe his concerns about **Bitcoin's co-optation** are valid.

Peter Thiel is the billionaire with a net worth of over $7.5 billion. And yesterday, he just shocked the world. He said that he is less bullish on Bitcoin because BlackRock looks to have co-opted Bitcoin. So we're going to be breaking down what Peter Thiel just said about Bitcoin. But we're not going to stop there. We're also going to actually have a look at how Peter Thiel's tone has changed over the years. As you can see, I've done some digging. I found some videos from 1999, 2022, and 2024 where Peter Thiel is all talking about Bitcoin and sovereign money, okay? And we're also going to be looking at why the other co-founder of PayPal in 1999, which of course was Elon Musk, also has some very varying and changing opinions on Bitcoin. Is there something going on behind the scenes that we aren't aware of? Well, we're going to be answering all of those questions today. I think the most appropriate place to start this video is by looking at the most recent

announcement or video that dropped yesterday of Peter till uh, which of course is this 2024 video on screen. We're going to come back to the 1999 and 2022 videos of Peter, but let's start right here with this one and start breaking down what Peter said literally yesterday question of um um but then there you know probably the part where I'm um less less convinced of is this this question of um the sort of ideological founding vision of Bitcoin or these cryptocurrencies as sort of a you know um cypherpunk crypto Anarchist libertarian anti-centralized government thing you know this is always you know the line is that what got you interested in the first place that's that's that's what I that's what I uh that's what I thought was terrific about it and the and then you know the question is does it really work that way or you know has that thread somehow gotten lost and so when people in the FBI tell me that they'd much rather have criminals use

Bitcoin than $100 bills. Um, it suggests that maybe, you know, maybe it's not quite, not quite working the way it was supposed to. Have you okay? It's a long video. I want to break halfway through here, uh, just to kind of draw your attention towards that point. Does Peter T have buddies in the CIA? He said it directly. When people in the CIA say that they prefer people to use Bitcoin than dollars, you know, assuming because Bitcoin is easier to track. It's pretty interesting. Makes you really ask some questions and maybe this is going to really kind of make us, you know, wonder or look at how Peter T, uh, Peter Thiel's tone has changed in 1999 and 2022. Okay, has his buddies in the CIA told him to change his narrative about Bitcoin? Who knows? Uh, let's play the rest of this video. We're going to answer that question later. Let's continue exploring this rabbit hole. Sold any of your Bitcoin? Uh, I still hold some. I, yeah, I've, you know, there were all these

ways I I I I didn't buy as much as I should have U and uh I I I I'm I'm Pro I I'm not I'm I'm not sure it's gonna go up that dramatically from here from here. Yeah I think we got the we got the ETF Edition and I don't know who else who else buys it quickly from here. Some interesting investment advice uh that that that actually surprised me because I don't think I've heard you. I thought you were still all in it um. I still have a small position it it probably still can go up some but it's going to be a volatile bumpy ride and uh and uh I am I'm I I was I had a dual dual reason one was the sort of you know ideological decentralized future of computing world. I I really do believe and really believe would be would be better and it seemed like the perfect vehicle for that for for such a long time and I'm I am just much less convinced of that so I interesting so.

may maybe so may maybe maybe Larry Frink with the um Black Rock ETF surrendered to the forces the anti-g forces or maybe um um uh it's it's more like bitcoin's been co-opted by by them and I I I worry it was more the latter okay different question uh okay SpaceX that's okay so that's it that's the video okay now the most interesting part of the video that he ended on was Larry think has Larry thinkink co-opted Bitcoin okay has the Black Rock Bitcoin ETF destroyed the cipher Punk Vision that Peter teal originally was such a big fan of okay and this is what he tried to create with PayPal way back in 1999 shico makes an interesting observation there he started a little bit too much was he nervous okay who knows I mean he's a very famous man uh who is incredibly famous for a number of different things okay now we are going to come back uh because I found some really interesting connections with Peter teal okay I've dug up some videos from

2022 actually looking at Peter Thiel when he gave this speech at the Bitcoin Miami Conference talking about Bitcoin versus what did he mention in that video ESG and Larry thinking well I've done some digging I found some interesting uh videos and I am going to play those for you guys when we check out the 1999 and 2022 versions of Peter Thiel uh but why are we so interested in Peter Thiel okay again this is just one man's comments who cares Luke some people might be saying that well we can see here Peter Thiel has a net worth of $7.4 billion okay to put that into perspective if we scroll down this website a little bit we can see that this would actually put him amongst the top 200 billionaires in the world okay Wikipedia puts him at 213th as we can see his wealth has gone pretty exponentially since 2020 which again is very interesting okay very very very interesting a lot of people know that the billionaires got a whole lot wealthier in 2020 okay uh he right now

213th richest man in the world. Most interestingly, is the fact that he wrote this incredible book 0 to One. I actually read that book, uh, a little while ago. I had the hardcover copy of the book, and the entire book is a Bitcoin book, okay. His book is how to create, like, you know, zero to one inventions, okay. How do you come up with the next 1 billion idea, okay. Your company or your ID has to be a zero to one. You don't just want to innovate on something and make it slightly better, no, no, no, no, no. You need to go to into a completely different realm or industry and create something that's never been created before, okay. That's his whole thesis of his book. It's a Bitcoin book, okay. This was written in like 2014, uh, so again, this is one of the reasons that Peter Thiel is so well-renowned in the space. Another is the string of investments that he has been involved in, okay. Look at all of the companies that he got in on early, okay. Literally every company that's been big.

over the past 15 years, he invested very, very early. Okay, uh, we got Airbnb, LinkedIn, we got, uh, Yelp, Spotify. We have SpaceX, Paler Technologies. Uh, now that is potentially going to be a very interesting, uh, rabbit hole in a future video. We talk about, uh, Palanteers connections with the US CIA and, you know, the US Military. That could be a video more designed for my personal YouTube channel. We might strap the tin foil hat on a little bit. Uh, but again, the point of me showing you this is that Peter Thiel is a very well-known investor. Okay, and even when we think back to 1999, uh, and his involvement, uh, with PayPal, let's actually have a look at, you know, who his other buddies at PayPal, uh, well, who were they and what have they done. So, these guys here are actually known as the PayPal Mafia. So, as you can see, there's some pretty famous names here. We have Elon Musk, went on to found SpaceX and Tesla. Uh, we obviously have, uh, the man Peter Thiel, and you can have the

Investments, or the companies that he helped to find. Later, we have Palantir. He must have invested very early in Facebook. We also have Reed Hoffman, we have the inventor of LinkedIn, on Yelp. Okay, the PayPal Mafia. They're, I don't know if you guys know them or not, but they're pretty prolific in the tech base. Now, the reason why I bring up the PayPal Mafia is because this is going to bring us to the first video I want to show you guys. Before we get there, I just want to show you guys this really cool little graphic of who is actually in the PayPal Mafia. So, as we can see, Peter Thiel, Elon Musk, Max Levchin, Reed Hoffman, very, very famous names there. If you guys are familiar with a lot of people in the tech space, we have David Sacks, again, very, very popular names. These are all the PayPal Mafia, and this is again why Peter Thiel's opinion is so well respected in not only the Bitcoin space but the broader tech base. Okay, he tried to create digital money.

before anyone else. He tried to do it before Satoshi in 1999 with PayPal. Okay, they were trying to, uh, disintermediate central banking. Now, I don't want to give away exactly what Peter Thiel said in 1999. I'm just going to play you this video, uh, for you guys. Okay, I'm gonna might not play the whole thing, but I think it's a pretty interesting watch, especially considering his most recent comments because he has been very bullish on digital currency and how it could be used as a tool for sovereignty. And he's been talking about these ideas and how the internet would change the world for over 25 years. But all of a sudden, he's a little bit bearish on bitcoin. So let's play this. This video might leave us some clues as to why Peter Thiel's tone has changed. How do you move from these physical dollars to electronic dollars? Uh, I think the basic technology is going to take place on the internet. I think the specific platform in the emerging world, um, is going to be

on a cell phone platform, if you look at the numbers, there are about 360 million um about 150 million online desktop-based accounts today. That number is projected to grow to about 300-350 million in the next 5 years. However, with respect to cell phones, internet-enabled cell phones, they're just getting rolled out right now. They already have some significant penetration in Japan, in Finland, in Sweden. They're getting rolled out in Western Europe, US next year. Uh, the numbers are projected to grow from about 10 million internet-enabled cell phones today to about 1 billion in 5 years. In 5 years from now, everybody who is a member of the middle class in the emerging world and in the developed world will have an internet-enabled cell phone. And this sort of the cell in in China, the numbers projected to be going go to something like 300 million cell phones, most of which will be internet-enabled. These people will have access to um their bank accounts, and it will be very easy for them to move money into an account in a safe.

jurisdiction where um where the banks are not politically controlled um and they will basically be able to completely dollarize the economy. There will be no need to have any rubles or nimi, and it will be non-traceable no matter how illegal the Chinese communist government says it is to hold US Dollars. You'll have a password on your cell phone, and the only way to stop this process would be literally to shut down the Telecommunications Network. And that's the kind of choice governments like China, India, some of these other countries are going to face. They will either have to shut down the Telecommunications Network and make it illegal for you to own a cell phone, or they will have to basically uh give up the kind of monetary sovereignty they've had and the enormous power that they've been able to wield as a result of this kind of sovereignty over the last uh many many years. And the question okay so just quick intermission between these clips Peter till is not mentioning Bitcoin obviously because this video is from 1999 this is a younger Peter teal.

okay, Bitcoin was not invented, but he's talking about the hypothetical idea of digital cash that cannot be controlled or shut off by governments. And he directly says the most overbearing governments around the world, their only choices are going to be, you know, let their citizens do what they do and give up monetary sovereignty to the individual, or try to ban the internet or ban telecommunications in the country. Okay, so Peter Thiel knew the importance, and he knew that we would create a digital currency that would be unstoppable. Okay, I'm trying to read between the lines and I can't summarize and play the entire 10-minute speech that Peter gave in 1999 talking about digital money. There's a little clip of it, but again, very interesting. Peter is aware and something else and little nugget that was in that clip that I want you guys to think about is he directly said that this digital money might actually be good to dollarize the world. He said you won't be using your Indian rupees or your Chinese yuan. Okay, again, just an

interesting little tidbit. I know a lot of people know that Peter Thiel with Palantir has lots of government contracts and connections. Okay, we're not going to touch that rabbit hole today because I want to play you the 2022 version of Peter Thiel. So, what's the summary of 1999 Peter Thiel? He's saying digital money will be unstoppable and it will give sovereignty to the individual. Tyrannical nation-states will have to give up their sovereignty, monetary sovereignty, to the individual. Okay, um, that's a summary of 1999 Peter Thiel. Now, let's look at 2022 Peter Thiel and see whether he is still very optimistic on digital currency. And I think Chico makes an incredible point here. In 1999, there was no stutter. Okay, obviously, that's a telltale sign. If somebody's stuttering a lot with their speech when they don't normally, are they telling the truth or not? Just a question. Uh, but Chico made a very good observation there. Thank you for chiming

in there Chico, and he also said in the 2024 video we played for you earlier, he did stutter a lot. Okay, so let's have a look at 2022 because this was a speech that pet gave at Bitcoin Miami 2022. And like his 1999 speech, he was pretty optimistic on bitcoin's possibility is um whether we're headed towards a kind of 1970-style world where it's higher inflation, more regulation, um and um and even being you don't want to be in a stock or Bond but even being Sor you don't want in cash or Bond but even being in a stock you're effectively um in something that's like a government-linked entity. Companies woke companies are sort of Quasi-controlled by the government in a way that Bitcoin never will be and uh in that sort of a world um I I would submit that perhaps the way we should think of the Bitcoin to equity rate, you know the Benchmark for Bitcoin Is Not Gold but equities and the question is why can't there be parody.

between Bitcoin and equities, why shouldn't we be talking about something more like 100 to 1, which of course won't be as good as it sounds. But well, you think you have it. Okay, you heard it from Peter Thiel's own mouth in 2022. He said woke companies are essentially controlled by governments, and Bitcoin is completely unlike that because it will never be controlled by governments. Okay, for anyone who might have filtered in late, let's play this 2024 clip again for you guys. I'm going to skip to the important part where Peter Thiel is directly referencing BlackRock and their potential now control over Bitcoin. And what we're going to do is we're going to actually contrast this with another section of Peter Thiel's speech at the 2022 Bitcoin Miami Conference where, as you can see on screen, he's talking about Larry Fink and Bitcoin versus ESG producer. Pam and myself just didn't quite have the time to also edit this clip into the video we were running.

a little bit late today, so we do apologize for being a little bit late. We really, really wanted to have this little cool six-minute clip with a little split screen ready for you guys, and it took a little while to get ready. We promise it will be worth the wait, so let's play the most important part about 2024 version of Peter Thiel for those who missed it. Okay, so again, 1999 Peter Thiel was very bullish on sovereignty and digital money. In 2022, Peter Thiel was very bullish on bitcoin, saying it couldn't be controlled by governments. And in that same speech, he even said the Bitcoin youth is going to change the world. Okay, very interesting. Now look at how his tone has shifted in 2024 and ponder to yourself. Ask yourself, what has changed? Why has Peter Thiel changed his tone so much? So I'm going to skip to not going to play play the full two-minute video like we did earlier, just going to play the important part that actually surprised me because I don't think

I've heard you. I thought you were still all in it. Um, I still have a small position. It probably still can go up some, but it's going to be a volatile bumpy ride. And, uh, and, uh, I am, I'm, I, I was, I had a dual, dual reason. One was the sort of, you know, ideological decentralized future of computing world that I really do believe and really believe would be, would be better. And it seemed like the perfect vehicle for that for, for such a long time. And I'm, I am just much less convinced of that. So I, interesting. So maybe, so maybe, maybe Larry Fink with the, um, Black Rock ETF surrendered to the forces, the anti-g forces. Or maybe, um, um, uh, it's, it's more like Bitcoin's been coopted by, by them. And I, I, I worry it was more the latter. Okay, so he worries it was more the lad p worries that Bitcoin has been co-opted by Black Rock and Larry thinkink. So what does he mean by that? How has Bitcoin

been co-opted. Let's engage in a little bit more of a hypothetical thought experiment at the end of today's video. But I first want to play you guys the clip of Peter Thiel talking about BlackRock and Larry Fink in his 2022 speech that I didn't play for you guys earlier, and we can kind of compare and contrast to see how his tone has shifted. Okay, I think this is very interesting, and I think it's definitely a part of the story of Peter Thiel and BlackRock that we are discussing today. So let's play this little section of BlackRock where, let me just... Sorry about that. I'm a maniac. I listen to all of my videos on 2x speed and some of them on two and a half, so I've slowed that down for us. You know, if you have these sort of large institutional investors, they need to be allocating some of their money to Bitcoin when they manage state pension funds in the US.

or, or, or they get trillions of dollars in assets when they choose not to allocate to bitcoin. That is a deeply political choice, and we need to be pushing back on them. We need to say, you know, um, you have to get on board on this. And um, the um, the Larry thing quote is sort of representative, I think, of a whole genre of anti-Bitcoin things where, uh, you know, um, and you have to always put in some context, but pro-blockchain, pro-blockchain is an anti-Bitcoin term very typically. So it's like, I love the blockchain, but you know, not so sure about this Bitcoin. Don't need Bitcoin, we can move on to the blockchain. Move along, this is not, you know, not the currency you're looking for. Move along, move along. And um, and uh, but you know, if we sort of combine, um, all of these things, you know, I would sort of put, put the label on, um, on the sort of, you know, on the sort of, um, the label they've come up

with and perhaps the real enemy is uh ESG um and um and which you know I I I I you know it's always sort of unclear what it means you know um you might think of it it's not charitable for me to sort of name some enemies here but I think that ESG is just a hate Factory. It's a factory for naming enemies and uh we should not be allowing them to do that or um or that you know of course you can you can sort of always ask the question you know what's the difference between ESG and CCP. The Chinese Communist party you know they are they are into social and governance um you know environmental is sort of fake. It's probably also fake in a lot of these cases but uh but I always think when you think ESG you should be thinking CCP. Um and um and there's some there's some degree um you know and it's been a surprise you know ESG has been surprisingly inclusive. You know basically as far as I can tell the only

the only things that are sort of not liked are you know some of the some of the carbon Industries and then um and then Bitcoin and uh. It's because most of the other companies you know they are they are subject to political control especially when they when your companies go public. You know I always I I always advise CEOs when they take their companies public. You know there's some good things you get liquidity you can the early investors can cash out um um you get some credibility but um it's basically taking a company public it's a it's a deao government takeover where where some people who are effectively government bureaucrats became more empowered. It's the the CFO The General Counsel the accountants the lawyers the uh you know the HR people all these sort of extensions of the state um are given more power uh and and we have to think of ESG is sort of this this vast umbrella thing and and and where you know sort of one of the one of the um great features of Bitcoin and it's

always a question whether it's a bug or a feature, but I would submit that in the sort of more heavy-handed sta world, it is far more of a feature than a bug. Is that Bitcoin is not a company. It does not have a board. Um, we do not know who Satoshi is. Um, and uh, and in some ways all these things seemed extreme in the world of the 2010s where you know the inflation was low, the regulations were were not the worst. Um, and it seems um, seems extremely pre for the world of the 2020s. And uh, if we had to summarize this in in uh one frame, it is um, it is, it is the the finance gercy that runs the country through um, whatever um, you know, whatever uh, silly virtue signaling slate Factory term like ESG they have, um, versus what I would call, you know, what what we have to think of as a as a revolutionary youth movement. And uh, and we have to just go out from this this conference and uh, and

take over the world sudden of you guys, but do you think Peter T's tone has changed about Bitcoin between 2022 and 2024? I think it's pretty clear that his tone has changed, okay. He directly framed up ESG and Larry thinkink as the enemy of Bitcoin in 2022, okay, and what has changed since then? Well, we've had the Black Rock Bitcoin ETFs launched, okay. Now we're going to get into all of the ways that you know why Peter T could think that Bitcoin has been captured by Black Rock, but I definitely want to check on the chat because there is 1,773 of you guys in the chat right now, and you guys are absolutely lively. So if you are enjoying the content, uh, you know, feel free to share it around. I think this is, I haven't seen anyone really talk about this topic, uh, at length today, so you know, don't forget to hit the like button. We appreciate all the love, but let's hit on the chat before we conclude today's video and have a look at what

Peter Thiel might be seeing that we might not be seeing. Let's have a look at the chat. So Moonshine Fuel says, Peter seems to get nervous about the powers that be. Seems to affect what he says sometimes. He probably doesn't want his health taken away. I think that was a, uh, that was a very professional way of, uh, saying that. Yes, I certainly do think that. Okay, here's an interesting comment from DD. You think he's probably working on his own coin, his own cryptocurrency. It's a possibility. Hey, I mean, PayPal, it, it was a form of his own coin essentially. He was creating a company that facilitated digital payments, and he would have obviously had equity in that. A little bit different to having your own coin but similar. Very interesting comment. 199 Chico says, 1999 no stutter. Dan M, another regular from the channel, says, To follow up on 24 interview, I was never convinced that even a cold wallet could not be monitored when you go to cash it out. Microsoft can monitor keystrokes via their PCs. Thoughts?

yes Dan, I operate under the assumption that everything I'm doing can be monitored. Even, you know, using an Apple computer or a Windows computer. I assume that, you know, Apple or Bill Gates' Microsoft can see what I'm doing on that computer. This is why a lot of, like, super hardcore bitcoiners like to use their own Linux computers for all of their Bitcoin stuff. And they like to keep that completely separated from the computer they use for their everyday, you know, their everyday work and their everyday pleasure. Most people prefer to use a Windows and an Apple for their everyday things. And they use a far more complex machine like a Linux for their Bitcoin stuff. Okay, if you have any questions, um, about that again, feel free to reach out. We'd be happy to help you guys connect you guys with an expert who might be able to help improve your computer hygiene, so to say, because it is important. Okay. And Nadia, great comment. He literally does sound 100% different. In cadence and position, 100% he sounds.

incredibly different mcloven says he sounds like McFly. For real in 2024 interview. He certainly sounds very, very, very different. Uh, I nearly, I nearly showed a very interesting comment on the screen that I, uh, that I probably shouldn't put on the screen. Uh, con says all he read hijacking Bitcoin. Yeah, that's common. He certainly could have, uh, read the propaganda book that's been spread around a little bit recently. Obviously called hijacking Bitcoin. Uh, I mean there's a lot of big blockers who think Bitcoin can be controlled and co-opted because they don't understand the importance of decentralization. All of the big blockers, the guys who support bcash and Bitcoin SV, they don't think that running a node and being decentralized is important. They think it's a good thing to have the blockchain be very vulnerable and centralized. Okay, so who knows, maybe that's why they are more scared of Black Rock and Larry think. Uh, I'm not going to, I'm going to try not to ascribe opinions.

to people who don't make them so. I'm going to pause there. Uh, my man Michael. Uh, if you're not following Michael, you definitely should. He's creating some incredible content in our salad. I've had the pleasure to meet him a few times. What's up, man? Um, maybe many of the OG bitcoiners have come to notice. Perhaps he's become disillusioned with how the network and ecosystem have evolved. Great question, Michael. I think there are a lot of hardcore bitcoiners who are certainly not a fan of, you know, welcoming, you know, the world's largest hedge funds into the Bitcoin space. Some people don't even like Michael Sailor. They say, Look, it's probably not the best thing. We have a guy, you know, you know, advocating for, you know, not, not exactly advocating for self-custody and, you know, you know, pumping the ETFs. Okay, I'm trying to represent the opinion of the more hardcore bitcoiners who aren't a fan of this. Um, I think it's maybe he has come to that, uh, realization. Uh, I think it's something we

need to stay cognizant of. I think we should always be trying to keep Bitcoin as decentralized as possible. I probably think it's always been inevitable that we would see the black rocks and the Michael Sailors and the really big entities come in and buy up a large SWA of the supply. I'm honestly surprised that it has taken this long, so I suppose I've been pleasantly surprised that it's actually taking this long. I'd be far more fearful of Black Rock entering the Bitcoin space and buying a million Bitcoin if this was happening in 2013 when the Winkle VI twins originally actually applied for that, you know, that spot Bitcoin ETF over a decade ago. I'd be far more worried about centralization risks than I am today. I'm a little bit more on the cautiously optimistic side, considering the fact 19 million coins have been distributed, so again very complex question Michael. I love it. Again, check out Sovereign Studios.

everything that Michael's doing in our Salvador um another question William apparently you don't know much about this guy check into paler what it can do and how he can how he magically came into possession of it nothing as it seems William I agree William I certainly think uh I think I've alluded to it a couple of times in the Stream. So if you didn't watch the beginning maybe scroll back to the uh the start of the stream but I said I wasn't going to go down that rabbit hole but yes paler has some very very interesting connections with the CIA and the US government and all those sorts of things so again I don't think the video needs a deep dive into that rabbit hole um oh Jes this is a great comment I tattooed my 12w oh I definitely can't show that comment on the on the screen I need to produce a Pam screaming uh screening these comments okay uh let's uh Nadia makes a great comment run a node everyone

everyone run a node. I think that's a this is one of the most bullish things about Bitcoin. The fact that you know we have at least tens of thousands. I've seen estimates that we actually have around 150 or 200,000 node Runners around the world. Um, who are all you know checking the rules of Bitcoin every 10 minutes. They're verifying transactions, they're relaying transactions all around the network. Um, and if a government does want to shut Bitcoin down, they're gonna have to come, you know, knock on the door of each one of those 200,000 node Runners and you know destroy their Bitcoin Ledger and the copy of the Bitcoin Ledger. Okay, so again, this is why I'm cautious, still more on the optimistic side of Bitcoin. I always encourage people to investigate Black Rock and Larry think and I don't care how much hate I get for talking about hypothetical, you know, Black Swan events, talking about centralization, uh, but I I'm still more on the cautiously optimistic side, uh, great to see Elaine in the chat as well.

another great friend I made in our salador. Great to catch you as well. So let's talk about what Peter is specifically talking about. We kind of briefly touched on it answering Michael's great question. Thanks for tuning in and leaving the comment brother. So I think Michael's kind of talking about the potential of you know Black Rock coming in buying a lot of coins but something else that we've talked about on the channel is the wording in the original Black Rock Bitcoin ETF filing. Okay, they said hidden on page 24 of their ETF filing that they were under no obligation to choose the most economic in the event of a Bitcoin hard fork. Okay, now this is interesting especially considering Nadia's comment, run a node everyone because Black Rock again some people have said it's normal for them to make this comment of their filing other people have been more skeptical. I'm more skeptical because it really makes you ask the question black Rock's thinking about the potential of a hard fork and they're

telling you that they don't have to choose the most economic chain. Okay, what does that mean? Well, that means that they could spin up a Green version of Bitcoin. They could accumulate what, 2 million, 3 million Bitcoin, centralize it into Coinbase, and all of a sudden they could say, Look, we have 3 million coins. Um, they wouldn't be the economic majority, but they would have a large economic vote or sway, so to say. Vote's probably a poor word for this scenario, and they could try to get people to go and use their Green version of Bitcoin where all of the transactions are censored, all of the miners have to do KYC, and all of these really Asian things that Peter Thiel recognized and mentioned as a, you know, threat to Bitcoin in this 2022 speech. Okay, you can see it on screen. He says, Bitcoin versus ESG is one of the biggest fights that Bitcoin's going to have to face. Okay, very interesting, and I think that is potentially another risk factor that Peter is looking at. Okay, we

know that the ETFs have gobbled up about a million coins right now. Okay, that's a lot of Bitcoin. It's 5% of the total supply. They've done that in less than six months. That's June 29th right now. The ETFs went live in the second week of January. In six months' time, they've accumulated a lot of Bitcoin, guys. What happens in another six months' time or in 12 months' time? I don't know. I don't know how much. Again, this is the really interesting thing about Bitcoin and the game theory of Bitcoin. Nobody knows exactly how decentralized Bitcoin has to be. Nobody knows how many nodes is enough nodes to be decentralized. Nobody knows how much of the supply is enough to be decentralized for Bitcoin to survive and guard against a nation-state level attack or a BlackRock-like centralization attack. There's only really probabilities. Okay, all I can say is that I'm a lot more bullish and a lot more confident in Bitcoin today in 2024 than I would have been in 2014 if we

were seeing these same kind of centralized risks. Okay, uh, that's all I can really say. Everything's a probability. Uh, and all I can say now is I'm a lot more confident in Bitcoin, and it is inevitable that these institutions were going to come in Bitcoin and buy a million coins like the Bitcoin ETFs. Everybody needs Bitcoin, the Boomers need Bitcoin, the institutions need Bitcoin, nation states need Bitcoin, uh, you know, every public company needs Bitcoin. They all need it. Um, okay, we got more questions. Uh, I don't trust him either like what he says sometimes. Dude's billionaire though, that's a good thing of course, but he's a liability to the powers of the bees, so to speak. Problem why he always seems so nervous. Great comment, moonshield. I think it's interesting, uh, that he was very, very nervous. And Michael says how much money does Black Rock got in Foundry digital. Okay, uh, I'm not entirely sure, Michael, but one thing I am sure of is that Black Rock holds pretty large stakes and voting stakes in all of the

publicly traded miners. We've made a video on this, okay, we've actually made a video looking at, you know, how BlackRock owns like 5% of Marathon, you know, 5% of all of these other large publicly traded Bitcoin mining companies, which again is very, very interesting. And they're actually 5%. Doesn't sound like a big stake, but what's interesting is the fact that, you know, these are a larger stake than anyone else. Okay, BlackRock was the number one and number two shareholder in the top five Bitcoin mining companies from memory. Okay, but what I think is interesting is the PayPal co-founder Peter Thiel, not a fan of Bitcoin. Okay, well, he's kind of like, he's cautiously, you know, kind of optimistic on Bitcoin. You know who else is kind of interestingly not super bullish on Bitcoin? Well, that's of course this man here, Elon Musk. Okay, I just wanted to add this in this story. Elon Musk isn't the most bullish man on Bitcoin, which has surprised so many.

people for so long, especially considering the fact that he has, you know, what he's actually put a lot of Bitcoin on his balance sheet. I'm the videos we've already been going live for 36 minutes, guys, so I'm not going to play the extra video I had planned about Elon Musk, um, because I think we've really gone down the rabbit hole today and answered a ton of question questions. I've Loved all the comments from you guys. We got 2212 of you guys in the chat, so thank you so far for tuning in. Um, all I'm GNA leave this video with saying is, oh, dead end can, uh, great. Smash the likes, people. Yeah, we're gonna leave the video saying that. Okay, all I all I am going to say is I'd encourage you to stay on the lookout for more of these very interesting, uh, you know, as Elaine says scups. Okay, this is a great question as well to kind of answer. Uh, have you noticed isg is failing falling out of favor being exposed, their Global scup developed by

Maurice Strong is bust. They still have the alien evasion, their last card. I'm certainly not ruling that out either, Elaine. Uh, if I was on my personal channel, I could really, uh, dive down some rabbit holes with you guys here on the channel. But yes, I mean, scopes will be used, um, to kind of distract the masses. Okay, goes back to the old quote, Okay, give them bread in circuses, and they will never revolt. Okay, again, I'm not even going to get into the rabbit hole of 2020 and climate change and ESG and all of these narratives. But again, guys, their narratives not rooted in economics or rationality. Okay, and they're all used to divide and distract. Great comment, L. Interesting comment, uh, Elon wants the idea of hope to be in Tesla instead of Bitcoin, so people will go by Tesla stock, not Bitcoin. Certainly a possibility, and it's a great comment as well, D.D., because obviously, look at Elon's balance sheet. Again, show me the incentives, I'll show you the outcome, or show me your

wallet not what you're saying. What's Elon's wallet? Well, SpaceX still holds, not sure, billions of dollars worth of Bitcoin on the balance sheet. Now, we do know that Tesla sold some of its Bitcoin after buying, from memory, $1.5 billion of Bitcoin in 2021, early 2021, in February. I think he bought, I think he sold about 70% of that Bitcoin, but he still holds a lot. Okay, so again, great comment. Show me the incentives, show me the outcomes. Now, with all that said, I can't show you the Elon Master video. Something I can show you is potentially another video that might pique your interests a little bit, especially while we're talking about BlackRock. Larry, think their incentives. Why are they saying what they're saying? Well, a little while ago, we've done many videos on BlackRock. Don't you worry. We've been warning about BlackRock for a very, very long time. And what we wanted to look at was why BlackRock is talking about the possibility of, you know, an 85%.

allocation to bitcoin. Okay, now again they've actually had multiple different discussions about Bitcoin allocations. And Bitcoin in another closed-door meeting, they actually said the quiet parts out loud. They told their clients in a closed-door meeting privately that they should allocate 24.5% to Bitcoin. They said that was a very good, and from memory, I think the words that the analyst said was fairly reasonable allocation 25%. So what they're saying behind closed doors is essentially that 0.1 Bitcoin is generational wealth. As you can see, we filmed a video on that a few months ago, got 58,000 views, people were pretty interested in that topic. And we talked about how BlackRock's own words and own analysts are suggesting that there is a possibility of $48 million Bitcoin. Okay, when you look at their own allocation percentages, when they're telling their private clients, Hey, buy 25% of Bitcoin, put 25% of your net worth in Bitcoin. Okay, and you know when you run the numbers, including the

multiplier effect. You get to some pretty interesting hypothetical numbers. Okay, so again, if you do want to learn a little bit more about BlackRock and their secret report that they did produce only for their private clients in a closed-door meeting earlier this year, you can check out the video. It looks like producer Pam has linked that one in the comments of today's chat, and it's up on screen for you guys right now. And I mean, with all that said, guys, thank you so much for tuning in. There's 2346 of you guys on the live stream. This is the biggest live stream we've ever done, so thank you for tuning in. Hope you enjoyed it. If you learned anything, feel free to share it. Um, you know, we're not asking you to share it, but we'd appreciate it, um, and we'd appreciate more people paying attention to what BlackRock is doing in the Bitcoin space because a lot of people just think they're just positive. Again, they could be, but let's be aware of all of the possible outcomes.

so we're going to leave the live stream. Um, on that note, thank you to Dead End, thank you to Elaine, and thank you to McLovin, and absolutely everyone who tuned in to the video today. We will see you guys in the next live stream.

Billionaire EXPOSES Why BlackRock's Captured Bitcoin

Bitcoin News

Peter Thiel, a billionaire with a net worth of over $7.

5 billion, recently expressed a less bullish stance on Bitcoin, suggesting that BlackRock's involvement may have co-opted the cryptocurrency.

Thiel's tone and opinion on Bitcoin have noticeably changed over the years, raising questions about the influence behind his shifting narrative.

His significant wealth and influence add to the intrigue of his evolving views on Bitcoin.

Peter Thiel: A Tech Investor and Visionary

Peter Thiel is renowned for his book "0 to 1," which focuses on creating groundbreaking inventions and ideas, as well as for his early investments in major companies like PayPal, Facebook, and SpaceX.

He was a part of the famous "PayPal Mafia," which included Elon Musk and other notable figures in the tech industry.

In a 1999 video, Thiel discussed the potential of internet-enabled cell phones and their impact on monetary sovereignty, offering insights into his early visionary thinking.

Peter Thiel's Shifting Views on Digital Currency

Peter Thiel believed in 1999 that digital money would give sovereignty to individuals and challenge tyrannical governments.

In 2022, he expressed strong optimism about Bitcoin, emphasizing its resistance to government control.

However, by 2024, Thiel's tone had shifted, expressing surprise at BlackRock's potential control over Bitcoin and raising questions about the cryptocurrency's future.

Peter Thiel's Concerns about Bitcoin and BlackRock

Peter Thiel is worried that BlackRock and Larry Fink have co-opted Bitcoin, shifting their stance on the cryptocurrency.

Thiel believes that large institutional investors like BlackRock should be allocating money to Bitcoin, and he sees ESG (Environmental, Social, and Governance) as a potential enemy of Bitcoin.

Thiel criticizes ESG for its inclusive nature, linking it to a government takeover of companies and expressing concern about its impact on Bitcoin.

The Changing Tone of Peter Thiel on Bitcoin

Peter Thiel's tone on Bitcoin has shifted from supportive to seeing it as captured by Black Rock and Larry Fink.

He is now critical of the influence of big finance and the enemy of Bitcoin.

Thiel's change in tone has sparked speculation and discussion in the cryptocurrency community about the future of Bitcoin and its relationship with major financial players.

Big investors like Black Rock entering the Bitcoin space are concerning for hardcore bitcoiners, who fear centralization and loss of decentralization.

However, the widespread distribution of Bitcoin and the large number of node runners provide some optimism for the resilience of the network.

Black Rock's statement about not being obligated to choose the most economic fork in their ETF filing has raised skepticism and questions about their intentions in the Bitcoin space.

The Potential Risks of Centralization in Bitcoin

Peter Thiel and the Bitcoin ETFs are accumulating a large amount of Bitcoin, raising concerns about centralization and control.

The involvement of powerful institutions like BlackRock and the cautious stance of Elon Musk are also contributing to the risks of centralization in Bitcoin.

Despite the uncertainties, the growing institutional interest in Bitcoin is inevitable, but it poses a potential threat to its decentralized nature.

The Role of BlackRock in Bitcoin Investment

BlackRock has been privately advising clients to allocate a significant percentage of their wealth to Bitcoin, potentially up to 25%.

This recommendation could potentially lead to a surge in Bitcoin's value, with the company suggesting that 0.

1 Bitcoin could be considered generational wealth.

The secretive nature of these recommendations raises questions about BlackRock's true intentions in the Bitcoin space.