As the influence of cryptocurrencies spreads around the world—market capitalizations are at record levels, and countries like El Salvador are going all-in on bitcoin—there are concerns regarding the potential for these currencies to be used as “weapons.” Are those concerns genuine, and can bitcoin and other cryptocurrencies be used as weapons? Can Bitcoin Be Used as a Weapon? In early 2021, Peter Thiel, a venture capitalist who once described himself as “pro-bitcoin,” said that bitcoin could be considered a “Chinese financial weapon against the US.” He reasoned that it could be used to intentionally weaken fiat currencies, including the US
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