Billionaire investor Chamath maintains the view that Bitcoin price will pass $100,000

2021-1-9 11:19

Bitcoin has undergone a remarkable rally over recent weeks. The cryptocurrency is up over 100 percent from where it was just a month ago, with BTC pushing past $40,000 on Thursday.

Chart of BTC’s price action over the past two and a half weeks. Source: BTCUSD from TradingView.com

Analysts are divided over what comes next for Bitcoin in the near term: there are many that believe the cryptocurrency is extremely overbought on technical terms and thus faces a correction in the near term, while there are others that note institutional buying pressure should outweigh any chance at correction.

Whatever the case, prominent investors in BTC have maintained their belief that long-term growth is likely for the coin.

Chamath Palihapitiya, a Canadian-American venture capitalist known for buying a large amount of the Bitcoin supply (rumored to be 100,000 coins) in 2012 or 2013, recently maintained this belief in an interview with CNBC.

Top VC continues to say Bitcoin will grow

Palihapitiya has been one of the biggest supporters of Bitcoin in public over the past nearly a decade now.

The venture capitalist, who is also the chairman of Virgin Galactic and a number of other companies, became a public supporter of the cryptocurrency in 2012 or 2013. This year, his advocacy of the investment has grown as he has noted that macroeconomic and geopolitical trends are pointing to the need for some form of “schmuck insurance,” which he thinks Bitcoin takes the form of.

In the investor’s latest CNBC interview, he was asked about where he thinks Bitcoin, the “rocketship,” will be going in the months and years ahead.

Keeping it short, the investor said that he thinks Bitcoin will pass $100,000, then $150,000, then $200,000, and so on into the future. Palihapitiya did not attach a timeline to his prediction, though said that he is certain the cryptocurrency will gravitate toward those values over time.

The reason? With so much chaos taking place in this world, it should be apparent that “our leaders are not as trustworthy and reliable as they used to be.”

While he says that all investors should have a bit of Bitcoin, a “bit of schmuck insurance,” he does own a large portion of the supply. So much so that he joked last week that he will buy out the entire Hamptons and build sleepaway camps for kids, working farms, and low-cost housing.

When $BTC gets to $150k, I will buy The Hamptons and convert it to sleepaway camps for kids, working farms and low-cost housing.

— Chamath Palihapitiya (@chamath) December 30, 2020

The opportunity

Palihapitiya may be underestimating the opportunity, though, some have argued.

The Winklevoss Twins think that Bitcoin will move to $500,000 in the years ahead as it usurps gold as the leading store of value.

The post Billionaire investor Chamath maintains the view that Bitcoin price will pass $100,000 appeared first on CryptoSlate.

origin »

Bitcoin (BTC) на Currencies.ru

$ 95631.05 (+0.28%)
Объем 24H $37.702b
Изменеия 24h: -0.38 %, 7d: -0.28 %
Cегодня L: $94117.42 - H: $95631.05
Капитализация $1896b Rank 1
Цена в час новости $ 39617.16 (141.39%)

bitcoin price pass billionaire 100 investor chamath

bitcoin price → Результатов: 126


The Fed is expected to cut interest rates twice in 2025, what might this mean for the Bitcoin price?

The cryptocurrency market has gone mainstream. It is no longer retail investors’ assets as institutions globally are investing in Bitcoin and other major cryptocurrencies.   As a risk-based asset, Bitcoin’s price is affected by central bank policies, especially those from the United States Federal Reserve.

2025-2-18 15:05


Bitcoin Price Remains Bullish As Monthly Stochastic Sits Above 80, Here’s Why

The Bitcoin price has struggled to break above the $100,000 threshold decisively over the past four weeks, largely fluctuating within the $90,000 to $100,000 range. This correction and lackluster price action have caused a degree of bearish sentiment among traders, with some speculating that Bitcoin might have already reached its peak for the current cycle. […]

2025-1-15 18:30


Extremely Bullish 88-Day Structure Appears On Bitcoin Price Chart After Hitting $105,000 ATH

The Bitcoin price has continued its foray above the $100,000 threshold and is currently trading around new all-time highs. Following its recent surge to an all-time high (ATH) above $106,000, the Bitcoin price has played out an interesting pattern on the 1-day candlestick timeframe, which points to an extremely bullish outlook for the leading cryptocurrency.

2024-12-16 11:30


Are Bitcoin Whales Still Holding For Higher Profit? This On-Chain Signal Suggests So

The Bitcoin price performance in 2024 is one for the history books, with the premier cryptocurrency crossing the $100,000 mark for the first time ever. However, hitting this milestone opened the door to another conversation — when will the market top be in? As a result, several predictions of the Bitcoin price top have emerged […]

2024-12-15 12:30