Billionaire venture capitalist Chamath Palihapitiya thinks Bitcoin is on its way to a $200,000 price point.
Palihapitiya, the founder and CEO of Social Capital, says in a new CNBC interview that Bitcoin is on its way to meteoric heights as people realize Bitcoin can offer them insurance in a politically and economically unstable society.
“Can you play the clip in 2012 and 2013 when it was at $200 and everybody was laughing at me on CNBC every time I would talk about Bitcoin?
Where is it going? It’s probably going to $100,000, then $150,000 then $200,000.”
Palihapitiya says Bitcoin’s properties as a scarce asset that’s largely uncorrelated with the macro economy will continue to fuel its rise amidst rising economic uncertainty, although the timing of his prediction is unknown.
“In what period? I don’t know – five years, ten years, but it’s going there, and the reason is because every time you see all of this stuff