Eric Weinstein, managing director of Thiel Capital and host of the popular podcast The Portal, urged his followers over the weekend not to get caught up in Bitcoin’s (BTC) daily fluctuations. He seemed to feel that it was wiser to focus on the cryptocurrency’s ability to hedge against currency debasement at the hands of central banks.
Bitcoin and other “hard-money” assets like gold and silver could be sound alternatives to the “disguised actions” of central banks, Weinstein tweeted to his nearly 485,000 followers. “Figuring out how we hedge against central bankers printing and devaluing fiat currency remains our upcoming rendezvous with the market,” he said, adding:
“This is not investment advice. But it is a belief that central bankers through their disguised actions are a threat to all those who hold cash and its close equivalents. Look into BTC, XAU, CHF, XAG, etc.”
