Chamath Palihapitiya, an investor in the cryptocurrency market, wants to run for governor of California.
Chamath Palihapitiya: I go into politics!
The CEO of venture capital Social Capital, Chamath Palihapitiya, announced plans to take over as California’s governor. The Twitter post in which he made it known about his decision is linked to his new website which includes his program points. This includes, for example, a large tax cut, an increase in teachers’ salaries, the end of student loans, etc.
Everything indicates that the investor is preparing for the elections to take place in 2022 and wants to start a promotional campaign early enough.
However, this is not his only political commitment. The billionaire has also joined the campaign, which aims to force politicians to vote on the dismissal of the current California governor, Gavin Newsom, which would lead to early elections in late 2021.
A growing number of Californians are dissatisfied with what Newsom is doing in this position, especially with the inconsistent restrictions and the slow circulation of the Covid-19 vaccine.
– Chamath Palihapitiya (@chamath) January 26, 2021
Former managing director of Facebook, Palihapitiya, was an early investor in the Bitcoin market and says he wants to maintain California’s status as a leading technology hub:
“Make California a global center for all technology and climate professions.”
Bitcoin is a hedge against the recession
In a January 7 interview, he said he views Bitcoin as a hedge against economic uncertainty and that the price of the cryptocurrency could rise to $ 200,000 over the next five to ten years.
According to a Forbes article from April 2020, Palihapitiya bought Bitcoin in 2013 when the price was around $ 80 per coin. The businessman claims he owned around 5 percent at one point. the entire supply of Bitcoin.
Since President Biden took office on January 20, there have been changes in US policy that can be considered pro-cryptocurrency. This includes the appointment of former member of Ripple’s board of directors, Michael Barr, as the next head of the Office of the Currency Controller. In addition, the Biden administration has also elected cryptocurrency knowledgeable Gary Gensler as head of the Securities and Exchange Commission.