What is going on in a billionaire’s head? This is probably a question everyone has asked themselves before. Crypto fans in particular will also be wondering about some of Bitcoin’s early adopters who have built up large fortunes in this asset class in recent years. One of these Bitcoin billionaires is Chamath Palihapitiya, a US venture capitalist. In a new interview, he chats out of the box and tells how he learned about Bitcoin, bought his first 1,000,000 BTC in 2010 and thus built up his $ 9,000,000,000 Bitcoin empire. We summarize the most important aspects of the interview for you.
Bitcoin as collapse insurance
Chamath Palihapitiya’s statements refer to his interview in the “Unchained Podcast” on June 23. Palihapitiya is a Canadian-American venture capitalist (venture capitalist) and founder and CEO of Social Capital. From 2007 to 2011 he also worked as an executive at Facebook.In short, the 43-year-old billionaire sees Bitcoin as insurance against the collapse of our existing economic and financial system. This view of the asset comes about because he sees BTC as the only fundamentally really uncorrelated asset. This should be independent of government decisions:
“I just think that if people have worked hard […] they should be able to ensure that they will not be wiped out if the government continues to make a number of bad decisions that have increasing consequences. And for me, Bitcoin is the only thing I’ve seen so far that is really fundamentally uncorrelated to this decision-making process and decision-making body.”
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