Thiel said that while he is "skeptical of most [cryptocurrencies]," he believes bitcoin has a promising future depending on the trajectory it takes, according to CNBC.
Speaking with Fox Business Network anchor Maria Bartiromo, Thiel said that those criticizing bitcoin are "underestimating [it] especially because ... it's like a reserve form of money, it's like gold, and it's just a store of value. You don't need to use it to make payments."
He went on to say:
"If bitcoin ends up being the cyber equivalent of gold it has a great potential left."
https://www.cnbc.com/2017/10/26/bitcoin-underestimated-peter-thiel-says.htmladmin edit, found the video: