PayPal co-founder Peter Thiel: Bitcoin is like a reserve form of money

“I'm skeptical of most of them (digital currencies), I do think people are a little bit… underestimating bitcoin especially because... it's like a reserve form of money, it's like gold, and it's just a store of value. You don't need to use it to make payments.”

And it’s not another usual Bitcoin evangelist speaking, it’s Peter Thiel — one of the most influential billionaires of our time. He was even the member of the current U.S. President's transition team, not to mention establishing user-friendly PayPal, which, according to the latest business news, is now even more valuable than American Express.

The statement was made in an interview with Maria Bartiromo from FOX. As Mr. Thiel added, if bitcoin ends up being the “cyber equivalent of gold, it has a great potential left”. Interestingly enough, in previous years he was much more cautious about Bitcoin, telling he would become more bullish on this cryptocurrency when its payment volume increases.

In an old interview (views might have changed since then), another famous PayPal founder who we all know for his recent space breakthroughs, Elon Musk, was not sure that Bitcoin will become something more than means of illegal transactions. But it should be noted that Bitcoin was worth around $200 back then.