Chamath Palihapitiya: Bitcoin is a ‘Flight to Safety’

In an interview with Anthony Pompliano (founder of Morgan Creek Digital), Chamath Palihapitiya (CEO of venture capital firm Social Capital) suggested that now could be the time to shine for the Bitcoin market:

“I think Bitcoin needs a period like this for it to be an appropriate choice. BTC is still a speculative instrument and it is more speculative to be trustworthy.”

Bitcoin market is still too volatile

In this interview, Palihapitiya talked about a wide range of topics related to the global economy. Regarding the replacement of the US dollar or other currencies, Palihapitiya explained that:

*“The only market more important than the debt market is the money market. Money markets have relatively low volatility and change in value over time. Meanwhile, BTC is still too volatile. However, it allows participants to activate to use as an important tool in running their business situation.”

See more: 03 reasons for the crypto market to be “green” again

Bitcoin can be used in a similar way

Billionaire Palihapitiya said:

“Compared to other money markets, BTC is quite volatile. You can’t use it effectively. BTC pushes itself into a ghetto (slum) for traders and investors. Today, BTC’s way out of the ghetto is by reducing the number of short-term traders and speculators, and still attracting investors. long-term investment.”

When you accumulate slowly and patiently, BTC can really explode. Ultimately, BTC can be seen as a “Flight Arrival”. In the next 10 years, this trajectory will take shape – and that’s the “10-year trajectory” – you’ll have plenty of time to learn about it to protect yourself and insure yourself.

“You can have it all, or nothing. BTC has a mechanism almost like gold, it will create an index. Instead of having to own gold, which is owned by Central Banks, the value of BTC will be determined by the participants, and those who own it.”

The crypto industry has also viewed Bitcoin as a type of liquidity for several years. Pompliano himself even advocates for BTC becoming an asset that is not correlated with traditional markets.

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