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Chamath Palihapitiya put hundreds of millions into Bitcoin
- janandonly 5y agoI'm not sure if he invested hundreds of millions, or whether his early investment is now worth hundreds of millions... The quote: Palihapitiya has been a bitcoin enthusiast for about a decade now. He began investing in it in 2012, only a few years after its inception. Early this year, he predicted the coin could hit $200,000 in five years. But on Wednesday, he said it's hard to predict where the price could go. Anyways, if Bitcoin continues to exist and rise in value, and only then, will he be called a genius. On the one hand I am extremely happy that the super rich are putting some $ in Bitcoin, because they are not likely to sell. So basically, they are setting a stable price floor. On the other hand: the dream was always to have a more fair and equally distributed kind of money... That dream falls on it's face if to many ultra rich get on board to quickly...