Peter Thiel Defends Calling Warren Buffett A 'Sociopathic Grandpa From Omaha'

In a recent interview at the Aspen Institute Festival, billionaire investor Peter Thiel opened up about his controversial comment where he labeled Warren Buffett as a “sociopathic grandpa from Omaha." He made the comment in 2022, and it certainly raised some eyebrows at the time as Buffett is highly regarded in the investing community.

Don't Miss:

• This billion-dollar fund has invested in the next big real estate boom, here's how you can join for $10.

"It got a lot of laughs," Thiel said during the interview. He explained that the “sociopathic grandpa from Omaha” comment came during a speech at the Bitcoin conference, where he pointed out who he thought were Bitcoin’s biggest opponents. Besides Buffett, he also called out JPMorgan Chase CEO Jamie Dimon and BlackRock's Larry Fink. Thiel believes that older, traditional finance leaders like Buffett are a major roadblock to Bitcoin gaining wider acceptance. 

Thiel went on to explain his perspective, saying, "Cryptocurrencies were a revolutionary youth movement, but for them to really take over, you couldn't just have a student uprising like 1968. You needed to get the rest of society on board. And as long as the old people were going to sit on their hands, that was the big blocker for cryptocurrencies to go to the next level."

Trending:

• Amid the ongoing EV revolution, previously overlooked low-income communities now harbor a huge investment opportunity at just $500.

When asked if he still stands by his remarks, Thiel admitted that things have changed in the Bitcoin world, especially with the introduction of a Bitcoin ETF. However, he's not sure if Bitcoin still has the same rebellious, anti-establishment vibe it used to have. "When people in the FBI tell me that they’d much rather have criminals use Bitcoin than $100 bills, it suggests that maybe it’s not quite working the way it was supposed to," he stated.

See Also:

• A billion-dollar investment strategy with minimums as low as $10 —you can become part of the next big real estate boom today.

Thiel also admitted that while he still owns some Bitcoin, he's not as confident about its future as he used to be. "I still have a small position. It probably still can go up some, but it's going to be a volatile, bumpy ride," he noted.

Trending:

• General Motors and other leaders revealed to be investing in this revolutionary lithium start-up — allowing easy entry by launching at just $9.50/share with a $1,000 minimum.

Although his original comments are controversial, and he still stands by them, Thiel seems to take it all in stride. For him, the remark about Buffett was part of a broader narrative about the clash between old and new financial systems. And if it got people laughing — and thinking — that's all the better.

Thiel isn't the only one who thinks this way. SkyBridge Capital founder Anthony Scaramucci also criticized traditional finance leaders who are skeptical of cryptocurrency. Scaramucci suggested that people like Buffett and Dimon either haven't looked into crypto enough or find it too much to handle at this stage in their careers.

Read Next:

• Here’s the AI-powered startup that turns traders into influencers achieving 12% monthly growth – invest in it at only 10 cents per share.