This is the guy who recently said BC could be going to a million.
Is the Fed’s massive coronavirus stimulus package helping the ultra-rich at the expense of ordinary American workers? That’s what Chamath Palihapitiya, chief executive of venture-capital firm Social Capital LP, argued Thursday.
Fed should pay every American more, let hedge funds and billionaires ‘get wiped out,’ says Social Capital CEO.
In 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’ve never bought more.
“Most of my bitcoin now sits with a company and they use it for trading purposes. They use it to run a bunch of other strategies,” he added. “I did that mostly for safety and security and peace of mind. I didn’t want to deal with it. I wanted to own equity in the business. That equity can be hedged. That equity can be tax structured advantageously, and then it allows them to run a big business which generates cash, and I can get a cash and dividend stream.” He proceeded to confirm, “so I have not bought since I initially basically wrote that article for Bloomberg in 2013.
Virgin Galactic Chairman Chamath Palihapitiya has shared his bitcoin investment strategy, predicting that bitcoin's price could reach a million dollars. He further suggested that everybody should have 1% of their assets in bitcoin since it is “a fantastic hedge.”2 days ago
TEEFARM SAID:
Just never drinking his kool aid on BC!!The charts will take us where the price belong's.Be careful on the long side of BC IMHO.