Its funny because Thiel has admitted recently that his biggest vision failure in last 10 years was undervaluing bitcoin and not buying more of it.

Yet...he continues to do so.....

There is this persistent narrative that keeps being pushed that: BTC = Settlement Layer / ETH = Application Layer. This is failure understandable from a 2018 view of the world, but it should be clear to all that the failures of ETH are whats collapsing that vision. Meanwhile the successes of BTC keep pushing it forward