Chamath Palihapitiya, who first bought bitcoin years ago at an average price of about $100, still believes the cryptocurrency has much further to go despite the monster rally this year.
"I think this thing is a $100,000 a coin probably in the next three to four years. And I think it is in the next 20 years a million dollars a coin. This is now a confidence game. There is no real utility in this. This is a fantastic fundamental hedge and store of value against autocratic regimes and banking infrastructure that we know is corrosive to how the world needs to work properly. You cannot have central banks infinitely printing currency." Palihapitiya said.
Source: Bloomberg Pro Terminal
Trader Bozhidar Arabadzhiev
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