Social Capital founder and CEO Chamath Palihapitiya shared his thoughts on Bitcoin and gold in an interview after CNBC’s Alpha conference.
The Canadian billionaire, who has a fortune of $ 1.3 billion, said that Bitcoin has effectively replaced gold.
Noting that he has invested millions of dollars in Bitcoin, the famous CEO Palihapitiya said, “I can now say with confidence that Bitcoin has replaced gold and will continue to do so.”
Also known for his support for Bitcoin, Palihapitiya stated that he expects the market value of BTC to continue to grow as Bitcoin replaces gold.
Although the famous billionaire refrained from giving a figure about Bitcoin price prediction in this interview, he said in his previous statements that he predicted that Bitcoin would reach $ 200,000, but it would take 10 years to reach here.
Palihapitiya stated that he is also interested in other cryptocurrencies, but he has concerns about inflation, and in this context, he invests in Bitcoin and large companies.
“Obviously I haven’t put a lot of money into cryptocurrencies other than Bitcoin.
I am a big bull. The crypto market can get huge. So we all need to be very careful.”
*Not investment advice.