Billionaire and CEO of Social Capital and Virgin Galactic Chamath Palihapitiya called Bitcoin"Insurance" from the disaster, when the government makes bad financial decisions.
During the Unchained podcast Chamath Palihapitiya(Chamath Palihapitiya) said that prudent people need something like Bitcoin as an insurance policy because cryptocurrencies are "fundamentally uncorrelated with traditional assets." Bitcoin can act as an insurance policy against bad government decisions.
the government makes bad decisions and the Bitcoin exchange rate is growing rapidly, this is bad - it means the economic crisis will hit the whole state, your friends and family.
“If your bet on Bitcoin plays, thenthere was a global crisis. And this will have huge consequences for many people whom we know and are worried about, who did not hedge their risks with Bitcoin. And you almost do not want this to happen, ”said Palihpapitiya.
Billionaire invested in bitcoin back in 2010year, having bought BTC for $ 80. Since then, Bitcoin has risen in price tens of thousands of times. That is why Palihpapitia believes that even small investments in bitcoin can save you in the event of a global crisis.
In April, the CEO of Social Capital said that Bitcoin could well exceed $1 million, but the cryptocurrency is unlikely to replace the US dollar.
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