Social Capital Chief Executive Officer Chamath Palihapitiya recently suggested that Bitcoin had “effectively changed” gold at CNBC’s Delivering Alpha conference:
“I can pretty confidently say that bitcoin has replaced gold, and it will continue to do so.”

Palihapitiya anticipates Bitcoin’s market cap to continue growing. The billionaire, however, declined to offer a detailed price forecast during his discussion with CNBC’s Scott Wapner.

Back in January, the previous Facebook exec predicted that Bitcoin might reach $200,000, but he additionally claimed that it would take the front runner cryptocurrency up to 10 years to get there:

“Where is it going? It’s probably going to $100,000 to $150,000, then to $200,000.”
Palihapitiya also mentioned that he was “very concerned” about the rising cost of living. He’s positioning his bets on hyper-growth firms, cash flow businesses as well as uncorrelated assets of the likes of Bitcoin.
During Palihapitiya’s most recent interview, he stated that crypto might come to be “very big”:
“I’m a huge intellectual bull. It could get very big. We all need to pay attention to it.”
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