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What happened to the big BTC investors? Are you still bullish about the future Bitcoin price ?
With the founder of Social Capital, Chamath Palihapitiya, nothing seems to have changed in this regard. He announced in a tweet yesterday on September 23 that he was still topping up his Profit Revolution holdings.
He also claims that „nothing“ compares to the bitcoin bet he made back in the distant 2012. He also had some good advice left for the general public:
Take the time to understand what you own. So deep that you can be „all in“ if necessary. It should never come to that, but if you have that level of conviction, you will measure the size and sum appropriately […]
Of course, the risk of trading with the highly volatile Bitcoin price should not be underestimated. When it comes to investments, however, the situation is somewhat different. The longer the investment horizon, the more the volatility can be neglected. Palihapitiya’s advice also makes sense in the sense that such a reflection on the value of all your wealth can help you to put your investment and your individual financial risk in a healthy relationship.
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The billionaire continues to bet on a rising Bitcoin price
The billionaire claimed during Social Capital’s recent investment conference call that his firm didn’t get into Bitcoin until 2013 .
The father of all cryptocurrency was among the company’s largest investments in 2018, but it’s not clear how many BTC Palihapitiyas company currently holds.
Palihapitiya is currently at the forefront of global SPAC madness with his ambitious bets that could make him the next Warren Buffett.
SPACs is an acronym that stands for „Special Purpose Acquisition Companies“. This strategy represents a relatively new technique of raising capital, and its popularity has skyrocketed recently. By reducing bureaucracy, SPAC IPOs enable an IPO within a few weeks.
After Virgin Galactic went public, Palihapitiya also launched private real estate startup Opendoor earlier this year through one of its SPACs.
While Buffett continues to reject BTC as a serious investment object, Palihapitiyas continues to rely on a future rising Bitcoin price and an investment in BTC.
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