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October 2, 2022
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Chamath Palihapitiya: Bitcoin is a capital security for the times –

“The structure of our society is destroyed” – said the former head of Facebook. Chamath Palihapitiya, because we are talking about him, sees Bitcoin as a kind of insurance against uncertainty that prevails in the world today.

Chamath Palihapitiya: I know why BTC is getting more expensive

The price of Bitcoin (BTC) has risen in recent weeks, recently surpassing $ 40,000. Let us recall that for a long time ATH BTC was at the level of USD 20,000. According to Chamath Palihapitiy, a venture capitalist and billionaire investor, Bitcoin, as an asset largely unrelated to political power, is a hedge against the global uncertainty we see today.

Citing a possible five or ten year time horizon, Palihapitiya said he believed BTC would likely hit $ 200,000 at some point.

The reason is that every time you see what is happening it reminds you of the fact that our leaders are no longer as trustworthy and credible as they used to be – he said on CNBC. – So just in case we really need some, you know, insurance that we can keep under our pillow that gives us access to uncorrelated [z tradycyjnymi rynkami] security – added.

Are governments unknowingly pumping Bitcoin’s price?

Since the coronavirus pandemic hit the world in 2020, governments around the world have taken various measures to combat its economic impact. The United States in particular has printed and spent huge sums of dollars for this purpose.

On the other hand, Bitcoin is a system that, thanks to an algorithm, has a limited supply of coins that will ever be mined. In addition, the cryptocurrency is not dependent on politicians. Not only that, in October 2020, Fidelity published a report showing the lack of correlation of Bitcoin’s price with the valuations of other markets, such as gold and stocks.

However, these are still not the only reasons why, according to a businessman, it is worth investing in cryptocurrencies.

The structure of our society is destroyed and until we figure out how to improve it, it’s time to have a little insurance on the side (…). It’s just an amazing thing. I would never have imagined it – He said.

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