Bitcoin [BTC] price along with other cryptocurrencies have skyrocketed in October after a difficult September month, when the crypto market charged more than $ 2 trillion.
The price of bitcoin is also holding near to $50,000 per bitcoin after falling below the expected level in early September – and after Tesla TSLA chief executive Elon Musk, one of the biggest bitcoin price promoters this year, issued a warning to bitcoin seriously.
Now, billionaire owner Chamath Palihapitiya has revealed that he has invested “hundreds of millions” in bitcoin and predicts that the value of bitcoin will continue to rise as it replaces gold.
“It is very difficult to stay here and give it to you. [bitcoin] Price forecast “. Palihapitiya, who founded the corporation Social Capital in 2011 and recently became known as the king of the SPAC for funding other investment vehicles, said. CNBC this week. “But I can say with great confidence that Bitcoin has successfully replaced the gold market and will continue to do so, and its market capitalization will simply grow.”
Paris Hapitiya likes other cryptocurrencies, including the bustling and emerging Solana, but added that her crypto holdings are mostly limited to bitcoin.
Obviously, we haven’t invested a lot of money other than Bitcoin,” he said. “As you know, it’s tens of millions, hundreds of millions, like small caps today. It can be huge, but no matter what I do, I think the impact is huge.
We all need to pay attention to this. “Palihapitiya previously predicted that bitcoin could rise to $200,000 per day. This is the price at which bitcoin has a market capitalization of around $4 trillion.
Bitcoin, which traded for only $ 10,000 this time last year, soared over the last year, adding more than 300% and exploding the value of the wider crypto market. Bitcoin prices are rising as investors increasingly cite Bitcoin as a hedge against inflation and predict it will serve as a digital alternative to gold.
Bitcoin and cryptocurrencies, meanwhile, have rebounded as China cracks down on cryptocurrencies and promises that Securities and Exchange Commission (SEC) chairman Gary Gensler will increase scrutiny of the crypto market. Wall Street veteran Ray Dalio has warned that governments and regulators will eventually kill bitcoin as bitcoin continues to grow.
“In my opinion [bitcoin is] It’s very difficult to kill, “added Paris Hapitiya. This is the most profound internet iteration we’ve seen, just as it was designed.’’