The conversation quickly turned to cryptocurrency after an hour. Thiel stated that his "biggest error" in the past ten years was getting too much into bitcoin strong>
Peter Thiel, Paypal's Co-Founder, reveals the Biggest Mistake of the Last Decade
Last week, Jimmy Soni's new book " the Founders" was extensively discussed during a panel discussion with the co-founders. The story, "The Founders: The Story Of Paypal and the Entrepreneurs Who Shaped Silicon Valley", was published last month.
The broadcast , published March 12, featured the Paypal co-founders Peter Thiel and Max Levchin as well as David Sacks and Luke Nosek. The discussion centered mainly on the Paypal origins topic. However, the discussion shifted to cryptocurrency at the 55.30 mark. The discussion host managed to sneak in one more question. He said that "it wouldn't be a tech conversation with out a little bit wild-eyed forward looking statements."
Thiel explained that there was a whole crypto thing happening in the midst of Paypal's rise and pointed out how Peter Thiel had "written and spoken lots about it." Thiel, the co-founder of Paypal, made this observation:
My biggest mistake in the past decade was investing too much and too late in bitcoin.
Thiel was a huge Bitcoin enthusiast, but he was 'programmed to not see it'
Thiel continued: "You know we invested in 2014 at Founders Fund, and did reasonably well. But it was on our radar in 2010/2011 -- We had seen all the crazy cryptocurrency people at Paypal, it's one of my interests and it motivated us, but none of these models really worked." Thiel added:
Bitcoin was a program that I didn't see as much of as I should.
Last week's statements by Paypal founder are very similar to those he made in October declarations. Thiel spoke at a Miami cryptocurrency event last year and stated that he felt "underinvested" in bitcoin.