How Many Bitcoin Does Chamath Palihapitiya Own

Chamath Palihapitiya Bitcoin

Former Facebook executive
Chamath Palihapitiya
predicted that the bitcoin price could reach $1 one thousand thousand by 2021.

Now, you might be thinking that he’s a crazy man. In this video, Bloomberg will talk about the possibility of Bitcoin increasing by 2100% in the next five years and how you can invest in it.

Let’due south become started.


TV host:

I desire to quote one of your all time virtually popular tweets. When Bitcoin gets to 150,000, I’ll buy the Hamptons and convert it to a sleepaway camp for kids working farms, and low cost housing. What inspired yous to write that one?

Paradigm Credit: coinmarketcap.com

Chamath Palihapitiya:

Well, I tin’t take all the credit of friends of mine, we have a picayune group churr, we were just, you know, talking almost random things for the summer, you lot know, the bulk of the pandemic pieces. And ane of my friends, Rob Goldberg, really was the one that said champion, and information technology just kind of like fix off a low-cal bulb, and then I just wrote it, and then I kind of published a piping.

You know, it’s very tongue in cheek, I mean, you know, I did another one, which said, like, I call up when Bitcoin gets to 40,000, or 100,000, I’chiliad going to buy Goldman Sachs and rename it tomorrow.

In fact, these are all jokes. You know, this is the office of my personality that some folks don’t get, which is merely, this is just natural language in cheek, it’s simply honestly, I never thought I’d be here.

I’chiliad enjoying the ride. Every minute of this feels like a consummate dream.

Goggle box host:

I adore you lot for not taking yourself too seriously. The Bitcoin thing, however, is very serious. Yeah, north of $40,000. So information technology’s not 150 you can’t purchase the heathens nonetheless. It’s non 100. You can’t buy Goldman Sachs still. But

Chamath Palihapitiya:

Can I tell you something nearly Bitcoin, which is so important?

It’s, so I think Bitcoin is very of import, considering it just shows the fragility of, yous know, the traditional financial infrastructure. And if you simply wait at the quantity and the size of like the money supply as an instance, the real question that I think people should be request ourselves is, okay, if Bitcoin becomes a de facto reserve currency that basically displaces gold?

What replaces the U.s. dollar?

And hither’s where if you desire to just behave with me for a 2d, information technology’south non Bitcoin that replaces us. It is a stable coin. And what does all of that mean, in less fancy language, there are companies around the world that are replacing one stock-still US dollar with one digital token of a US dollar.

And by merely making that small obstruction, they’re able to completely build financial rails that didn’t be on ramps and off ramps, to trading to asset management, to banking to payments processing, at that place’south a revolution happening. Information technology’s not felt as much in the U.s., because people don’t see it, because the financial services’ infrastructure is so robust.

But when yous look at the developing world, and if you look at any market where there is whatever form of currency manipulation, or currency instability, that’south the futurity. And then, you know, Bitcoin is a canary in a coal mine, for a completely virtual, largely bearding, and we can contend whether that’s good or not. Fiscal reality.

And so, you know, I think it’southward a very important trend of growth, understand, the other matter is, so many of the dislocations that we’ve seen, won’t happen anymore when we go on those track. So, you lot know, going back to this whole GameStop debacle, equally I’ve learned more, and as you probably know, now to, you know, a lot of this has to practice with the arcane way in which stocks are settled.

And what I learned was, we used to take a t plus three, you know, after the trading solar day, 3 days subsequently, is when you lot settle, and it was moving sky and world, crying and screaming to move companies to go to t plus two.

Well, if you’re running a stable money, or, you know, smart contracts on top of Ethereum, all of this next generation infrastructure, I hateful, this is t plus.

Right? You’re settling things that are nanosci. And that’south really skillful.

TV host:

Just in addition to Bitcoin, which coins if you will, crypto currencies, digital assets, are you are you a holder of Are you a believer?

Chamath Palihapitiya:

Well, I will be publishing this soon.

I am building a fairly sizable portfolio of what are chosen NFT’s [Non Fungible Tokens] some digital fine art, some, you lot know, virtual trading cards, and these may sound crazy to some.

Merely I do think that’s the next borderland of digital currency and digital assets.

And and then, I take been building a portfolio.

My decision is The squad enough will denote information technology, we will publicize everything nosotros own. And we will make our holdings transparent. And then that folks tin can track along and see as we buy and sell things. So that’due south coming in a few months, I’m non really set to prove the details of exactly what nosotros pulled nonetheless.

But I’thousand really excited mayhap in a few weeks up to you, but I’m very excited, we’re almost ready to tell.

TV host:

Practise you still want to intermission up big tech?

Chamath Palihapitiya:

Well, I retrieve they need to get regularly. I think that companies like Facebook and Google volition be subject to much stricter laws, section 230 will change and recognize them as quasi publishers.

And I say quazi, because this is where once more, the laws and politicians understanding of the economy is withal besides breakable. But if they tin bring the right people to teach them what an algorithm is, and you lot know, what machine learning and what you know, weights are and how these things operate, what they’ll run into is a mechanized publisher, and they’re shaping rules for mechanized publishers that are different from being a dumping.

So I think that’southward going to happen.

And so, you lot know, for Microsoft, Apple and Amazon, I don’t think that much is going to happen. And the reason is, considering I think that those guys are generally on the correct side of the screen. And they generally don’t care towards the type of hot push issues that politicians intendance almost, like Facebook and Google threaten the institutionalized structures of power and influence that codify policies.

Yous know, Amazon Prime number doesn’t exercise that getting toothpaste, yous know, the next day, it’due south just non that disruptive. So, you know, the laws volition affect the folks that, you know, threatened to disrupt politicians starting time.

Television receiver host:

And you think politicians can meet that threat, with regulation, equally opposed to in Facebook’s case, forcing the visitor to divest of say, Instagram or WhatsApp?

Chamath Palihapitiya:

Well, can they? I’chiliad not sure that they can. Will they?

Yes.

And I recall that wait, when you look at Mark stated strategies have stated strategy. You know if I had to, over again, do a one pager for that laborious the long thing that he wrote it, basically what he said was, I am going to take all these problems.

I’m going to entangle them together, and so that institutionally, this code base of operations is monolithic. At present, this is an engineer’s such that, if any sort of, you know, carve outs or divestiture would take come to pass. Information technology would take years, of course, to disentangle this mess, which are many more years when I can bet on the laws irresolute the government changing for their minds.

So I think from a business strategy perspective, it was both obvious and savage, merely I don’t call up it was seen for what it was past politicians.

Source: https://www.wealthchapter.com/chamath-palihapitiya-bitcoin-price-prediction/

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