The number of people showing an affinity toward gold or precious metals is rather vast. Peter Thiel, someone most people wouldn’t necessarily associate with gold, is an actual gold bug as well.
Peter Thiel the PayPal Founder
Many people are unaware of who is responsible for bringing PayPal to users worldwide. This online payment service provider was founded in 1998 and founded by Max Levchin and Peter Thiel. Both individuals founded the company out of a desire to create a new world currency.
Albeit PayPal never lived up to those expectations, it has certainly become a global payment method. That is, in part, due to the foundations laid by Thiel and Levchin. Their tenacity to overcome hard times between 1998 and 2002 have allowed PayPal to become a global brand.
When the company was sold to eBay in 2002 for $1.5 billion, many people were wondering what Peter Thiel would come up with next. After all, several of the company’s former employees have founded interesting businesses, including Elon Musk, Chad Hurley, Russel Simmons, and Reid Hoffman.
Peter Thiel the Investor
Since his tenure at PayPal, Peter Thiel has made a lot of headlines due to his investments. More specifically, he is an active VC for tech companies in their early stage of development.
Noteworthy investments to date include Facebook – becoming their first outside investor – as well as Founders Fund and Palantir Technologies. It is evident that there are many ways to turn money into more money, assuming one has sufficient knowledge to make such big investments.
Peter Thiel and the Gold Standard
None of the investments or affiliations above has much to do with gold or other precious metals. However, one could argue that Founders Fund, which was co-founded by Thiel – has invested in many different companies and businesses, including firms active in the gold industry.
There is also the fact that Thiel openly advocated for the gold standard several years ago. During an interview with Glenn Beck, Thiel praised the gold standard and how it has an uncanny relation to innovation in the technology industry.
When the gold standard was still maintained, it had a way of connecting the real with the virtual. In that regard, it was well ahead of its time in certain aspects. Many people are advocating for reinstating the gold standard, albeit it remains to be seen if and when that will happen exactly.
Peter Thiel on Bitcoin
Perhaps the biggest correlation between Peter Thiel and gold comes in the form of Bitcoin. More specifically, Thiel holds a significant position in BTC, simply because he expects it to become the equivalent of gold, but in an online manner.
That statement also makes Peter Thiel a Bitcoin bull, alongside with being a gold bug. There are ample correlations to be found between Bitcoin and bullion, as they share a lot of different similarities. As such, it is only normal that experts will highlight the similarities, in an effort to educate the masses on what to invest in.