Bitcoin\u2019s (BTC) price has risen dramatically over the past days and weeks, recently wheeling past $40,000. An asset largely untied to governmental authority, Bitcoin is a hedge against global uncertainty, according to venture capitalist and billionaire Chamath Palihapitiya.<\/p>\n
Citing a possible five or 10-year time horizon, Palihapitiya said he thinks Bitcoin will likely reach $200,000 at some point. \u201cThe reason is because, everytime you see all of this stuff happening, it just reminds you that wow our leaders are not as trustworthy and reliable as they used to be,\u201d he told CNBC in an interview on Thursday. He added:<\/p>\n
\u201cSo just in case, we really do need to have some kind of, you know, insurance we can keep under our pillow that gives us some access to an uncorrelated hedge.\u201d<\/p><\/blockquote>\n
Since the pandemic gripped the world in 2020, governments around the world have taken various measures to combat its economic impact. The United States in particular has printed and spent massive sums of dollars. <\/p>\n
Borderless and run by the people, Bitcoin allows holders to control their funds by themselves \u2014 no centralized authority required. Additionally, in October 2020, Fidelity released a report showing Bitcoin\u2019s lack of price correlation to other markets, such as gold and stocks. <\/p>\n
\u201cIt\u2019s going to eventually transition to something much more important, but for right now, you\u2019re just getting all these data points that prove this thing,\u201d Palihapitiya said of Bitcoin, adding:<\/p>\n
\u201cThe fabric of society is frayed, and until we figure out how to make it better, it\u2019s time to just have a little schmuck insurance on the side, and everybody\u2019s running in. It\u2019s just an incredible thing. I could never have imagined it.\u201d<\/p><\/blockquote>\n
Crypto has seen a noteworthy amount of adoption since the beginning of 2020, including large players gaining interest in BTC. Some influential financial figures, however, such as Shark Tank\u2019s Kevin O\u2019Leary, still remain skeptical on Bitcoin, citing regulation as a potential issue. <\/p>\n
The U.S. Commodity Futures Trading Commission has previously classified Bitcoin as a commodity, although recent action shows increased regulatory overwatch on the crypto space, partly evident in a government proposal limiting self-custody digital asset wallets. <\/p>\n
Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Bitcoin\u2019s (BTC) price has risen dramatically over<\/p>\n","protected":false},"author":3,"featured_media":107904,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\n
Chamath Palihapitiya sees Bitcoin as insurance against uncertainty - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/chamath-palihapitiya-sees-bitcoin-as-insurance-against-uncertainty\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chamath Palihapitiya sees Bitcoin as insurance against uncertainty - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Bitcoin\u2019s (BTC) price has risen dramatically over\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/chamath-palihapitiya-sees-bitcoin-as-insurance-against-uncertainty\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-09T00:10:53+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/01\/ccryptafoto7076ef1f-1abc-4b99-9635-02cd9af98e70.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/chamath-palihapitiya-sees-bitcoin-as-insurance-against-uncertainty\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/chamath-palihapitiya-sees-bitcoin-as-insurance-against-uncertainty\/\",\"name\":\"Chamath Palihapitiya sees Bitcoin as insurance against uncertainty - Pre Coin News\",\"isPartOf\":{\"@id\":\"https:\/\/precoinnews.com\/#website\"},\"datePublished\":\"2021-01-09T00:10:53+00:00\",\"dateModified\":\"2021-01-09T00:10:53+00:00\",\"author\":{\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\"},\"breadcrumb\":{\"@id\":\"https:\/\/precoinnews.com\/crypto\/chamath-palihapitiya-sees-bitcoin-as-insurance-against-uncertainty\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/precoinnews.com\/crypto\/chamath-palihapitiya-sees-bitcoin-as-insurance-against-uncertainty\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/chamath-palihapitiya-sees-bitcoin-as-insurance-against-uncertainty\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/precoinnews.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Crypto\",\"item\":\"https:\/\/precoinnews.com\/category\/crypto\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Chamath Palihapitiya sees Bitcoin as insurance against uncertainty\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/precoinnews.com\/#website\",\"url\":\"https:\/\/precoinnews.com\/\",\"name\":\"Pre Coin News\",\"description\":\"precoinnews.com\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/precoinnews.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\",\"name\":\"mediabest\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"caption\":\"mediabest\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Chamath Palihapitiya sees Bitcoin as insurance against uncertainty - Pre Coin News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/precoinnews.com\/crypto\/chamath-palihapitiya-sees-bitcoin-as-insurance-against-uncertainty\/","og_locale":"en_US","og_type":"article","og_title":"Chamath Palihapitiya sees Bitcoin as insurance against uncertainty - Pre Coin News","og_description":"Bitcoin\u2019s (BTC) price has risen dramatically over","og_url":"https:\/\/precoinnews.com\/crypto\/chamath-palihapitiya-sees-bitcoin-as-insurance-against-uncertainty\/","og_site_name":"Pre Coin News","article_published_time":"2021-01-09T00:10:53+00:00","author":"mediabest","twitter_card":"summary_large_image","twitter_image":"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/01\/ccryptafoto7076ef1f-1abc-4b99-9635-02cd9af98e70.jpg","twitter_misc":{"Written by":"mediabest","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/precoinnews.com\/crypto\/chamath-palihapitiya-sees-bitcoin-as-insurance-against-uncertainty\/","url":"https:\/\/precoinnews.com\/crypto\/chamath-palihapitiya-sees-bitcoin-as-insurance-against-uncertainty\/","name":"Chamath Palihapitiya sees Bitcoin as insurance against uncertainty - Pre Coin News","isPartOf":{"@id":"https:\/\/precoinnews.com\/#website"},"datePublished":"2021-01-09T00:10:53+00:00","dateModified":"2021-01-09T00:10:53+00:00","author":{"@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a"},"breadcrumb":{"@id":"https:\/\/precoinnews.com\/crypto\/chamath-palihapitiya-sees-bitcoin-as-insurance-against-uncertainty\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/precoinnews.com\/crypto\/chamath-palihapitiya-sees-bitcoin-as-insurance-against-uncertainty\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/precoinnews.com\/crypto\/chamath-palihapitiya-sees-bitcoin-as-insurance-against-uncertainty\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/precoinnews.com\/"},{"@type":"ListItem","position":2,"name":"Crypto","item":"https:\/\/precoinnews.com\/category\/crypto\/"},{"@type":"ListItem","position":3,"name":"Chamath Palihapitiya sees Bitcoin as insurance against uncertainty"}]},{"@type":"WebSite","@id":"https:\/\/precoinnews.com\/#website","url":"https:\/\/precoinnews.com\/","name":"Pre Coin News","description":"precoinnews.com","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/precoinnews.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a","name":"mediabest","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","caption":"mediabest"}}]}},"_links":{"self":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/107905"}],"collection":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/comments?post=107905"}],"version-history":[{"count":0,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/107905\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media\/107904"}],"wp:attachment":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media?parent=107905"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/categories?post=107905"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/tags?post=107905"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}