The Bitcoin 2022 conference in Miami concludes Saturday and already has produced a number of notable quotes from billionaires and investors, here are the most important things Peter Thiel, Cathie Wood, and Michael Saylor said during the meeting.
The billionaire co-founder of PayPal and Palantir labeled Warren Buffett as “enemy No. 1” for bitcoin fans during his keynote speech.
Calling him a “sociopathic grandpa from Omaha,” Thiel had particularly harsh words for Buffet, whose comments about bitcoin include calling it “probably rat poison squared” in 2018 and saying it “has no unique value at all, it doesn’t produce anything” in 2019.
Thiel also said JPMorgan CEO Jamie Dimon and BlackRock CEO Larry Fink were other members of a “finance gerontocracy” that opposes the “revolutionary youth movement” behind bitcoin. “This is what we have to fight for bitcoin to go 10x or 100x from here,” said Thiel, a personal investor in bitcoin and through his Founders Fund.
“As many of you may know, in our big ideas 2022 … we have a price target in 2030 for Bitcoin of more than $1 million dollars per bitcoin,” said Cathie Wood, CEO of Ark Investment, pointing the audience to the January 2022 call published on her Ark Invest website. “If you go in and you’ll see how we build that case … all we expect over the next eight years is that roughly two and a half percent of institutional assets are allocated to bitcoin.”
“[That’s] how institutional investors work, they tiptoe in. In the 70s it was real estate,” and in the 1980s and 1990s it was emerging markets, she said. “And now I think it’s going to be crypto starting with bitcoin and that’s very important, starting with bitcoin.”
“I think a couple of weeks ago with the executive order, what we had was the president of the United States giving a green light to bitcoin,” he said as he sat next to Wood on their joint panel. Saylor was referring to President Joe Biden’s executive order in March for further work on developing a national policy on digital currencies.
“If I scan the last 100 years of history, and I asked, ‘When is the last time the president of the United States directed the government to embrace a new asset class?’ The answer is never. So I think that bitcoin should be taking a victory lap for what happened here just in the past few weeks in the United States government,” Saylor said.