{"id":12803,"date":"2021-10-04T01:54:09","date_gmt":"2021-10-04T01:54:09","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/virgin-galactic-chairman-chamath-palihapitiya-says-bitcoin-has-replaced-gold\/"},"modified":"2021-10-04T01:54:09","modified_gmt":"2021-10-04T01:54:09","slug":"virgin-galactic-chairman-chamath-palihapitiya-says-bitcoin-has-replaced-gold","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/virgin-galactic-chairman-chamath-palihapitiya-says-bitcoin-has-replaced-gold\/","title":{"rendered":"Virgin Galactic Chairman Chamath Palihapitiya Says Bitcoin Has Replaced Gold"},"content":{"rendered":"

Virgin Galactic\u2019s chairman and CEO of Social Capital, Chamath Palihapitiya, says bitcoin has effectively replaced gold. Having predicted that the price of the cryptocurrency would hit $200,000, the executive said bitcoin\u2019s \u201cmarket cap is just going to grow.\u201d<\/strong><\/p>\n

Palihapitiya: \u2018I Can Pretty Confidently Say That Bitcoin Has Effectively Replaced Gold\u2019<\/h2>\n

Virgin Galactic Chairman Chamath Palihapitiya talked about bitcoin in an interview with CNBC at the Delivering Alpha Conference last week. The billionaire executive is also the founder and CEO of Social Capital.<\/p>\n

Earlier this year, Palihapitiya predicted that the price of BTC<\/a> would hit $200K in about five years. Commenting on his price prediction, he said Wednesday:<\/p>\n

It\u2019s very hard for me sitting here to give you a price prediction, but I can pretty confidently say that bitcoin, I think, has effectively replaced gold. And it will continue to do so. And so that market cap is just going to grow.<\/p>\n

The price of bitcoin is $48,093 and its market cap is $905.8 billion at the time of writing, based on data from Bitcoin.com Markets<\/a>.<\/p>\n

Palihapitiya has long been a supporter of bitcoin. He revealed<\/a> last year: \u201cIn 2013, I bought a lot and at one point I think I had almost 5% of all the bitcoins. My basis is about 80 bucks a coin. I\u2019ve never bought more.\u201d<\/p>\n

The billionaire investor was quoted<\/a> last week as saying: \u201cI haven\u2019t put a lot of money outside of bitcoin obviously. You know, tens of millions, hundreds of millions \u2014 like small capital right now. It could get very big. But irrespective of what I do, I will say we all need to pay attention to it because I think the implications are enormous.\u201d<\/p>\n

He explained that cryptocurrencies and decentralized finance (defi) are part of Web 3.0 while Google and Facebook dominated the first two versions of the internet. The next stage of the evolution of the internet \u201cis rebuilding all of that stuff without an obvious leader,\u201d the Virgin Galactic chairman said. \u201cIt\u2019s completely headless. It\u2019s entirely peer-to-peer. And I think that that\u2019s both scary and exhilarating.\u201d<\/p>\n

Palihapitiya also reportedly commented on whether regulators could kill bitcoin or cryptocurrency. Some people, such as Bridgewater Associates founder Ray Dalio, have warned that governments could kill<\/a> cryptocurrency if it becomes really successful. However, many others said it is not possible to kill crypto, including Tesla CEO Elon Musk, who recently suggested that governments should \u201cdo nothing<\/a>\u201d to regulate or control crypto.<\/p>\n

Palihapitiya opined:<\/p>\n

I think it\u2019s very hard to kill [bitcoin]. Technically, it\u2019s very difficult. Just the way that it\u2019s architected, it is the most profound iteration of the internet that we\u2019ve seen.<\/p>\n

Do you agree with Chamath Palihapitiya that bitcoin has replaced gold? Let us know in the comments section below.<\/strong><\/em><\/p>\n

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\nMarkets and Prices, Bitcoin Price, Chamath Palihapitiya, Chamath Palihapitiya bitcoin, Chamath Palihapitiya crypto, Chamath Palihapitiya cryptocurrency, Chamath Palihapitiya price prediction<\/p>\n","protected":false},"excerpt":{"rendered":"

Virgin Galactic\u2019s chairman and CEO of Social Capital, Chamath Palihapitiya, says bitcoin has effectively replaced gold. Having predicted that the price of the cryptocurrency would hit $200,000, the executive said bitcoin\u2019s \u201cmarket cap is just going to grow.\u201d Palihapitiya: \u2018I Can Pretty Confidently Say That Bitcoin Has Effectively Replaced Gold\u2019 Virgin Galactic Chairman Chamath Palihapitiya…<\/p>\n","protected":false},"author":0,"featured_media":12804,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-12803","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/12803"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=12803"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/12803\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/12804"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=12803"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=12803"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=12803"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}