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[Balint098]

The CEO of Social Capital and Virgin Galactic Chairman, Chamath Palihapitiya said that since Bitcoin has no correlation with conventional financial market, a financial disaster would be needed for bitcoin price to reach the moon. In an interview with Unchained Podcast on June 23, the billionaire further explains that bitcoin is a kind of disaster insurance against government's bad financial decision, which will lead to catastrophic financial disaster that affect a huge number of people. The billionaire bought one million bitcoin for only $80 in 2010,and the that amount net him billions in pure profit.

 

[AudraMiller]

What Happens to Bitcoin After All 21 Million Are Mined?

After all of the bitcoin is mined there is a good chance that supply will reach its end and at that point it will all be about moving around the bitcoin that is already in circulation, and this will cause teh price of bitcoin to increase exponentially over a very short period of time.

 

[btaliat]

This may be relatively true but I don't accept it. The only time bitcoins price go up as a result of pandemic and that was during the Corona lockdown. The other time bitcoin increased, let say 2017, there was no pandemic of any such. The only thing that usually happens that make the price goes up is the lockdown which makes people to be home trading fully.

 

[Wisdom01]

This may be relatively true but I don't accept it. The only time bitcoins price go up as a result of pandemic and that was during the Corona lockdown. The other time bitcoin increased, let say 2017, there was no pandemic of any such. The only thing that usually happens that make the price goes up is the lockdown which makes people to be home trading fully.

Maybe he was relating it to the pandemic when there was lockdown since people had to earn online and they invested in cryptocurrency to do so , but he have forgotten that over the years Bitcoin have been increasing but there was no pandemic or lockdown that happened during that period

 

[AudraMiller]

This may be relatively true but I don't accept it. The only time bitcoins price go up as a result of pandemic and that was during the Corona lockdown. The other time bitcoin increased, let say 2017, there was no pandemic of any such. The only thing that usually happens that make the price goes up is the lockdown which makes people to be home trading fully.

That is true, however in that time of 2017 was there not some sense of economic recession that teh world was going through and therefore there could have been a lot of people that were turning to cryptocurrency in that time. That is my theory on the 2017 rise in price.

 

[btaliat]

That is true, however in that time of 2017 was there not some sense of economic recession that teh world was going through and therefore there could have been a lot of people that were turning to cryptocurrency in that time. That is my theory on the 2017 rise in price.

Yes, I remember that there was economic meltdown around 2026 to 2017. But what I am trying to say is that there are sometimes when bitcoin increased without any financial problem. Bitcoin do rise when government policies favour it . It will give people rest of mind in investing in it . I may be wrong though.

 

[kaycee001]

I think he is right when government make bad policies this can cause panic and thus affecting the financial state of the country.so when such happens it can make crypto to gain some influence among the chaos caused by the government decisions

 

[MayorKayz]

So that is how he became a billionaire by just buying bitcoin that worth not up to $100. It is better to have bought bitcoin at the early stages. He is lucky to have invested in bitcoin then.
I don't think that he is right for saying that the price of bitcoin skyrocket when there is financial disaster.
If that is what he is saying. Then why disaster happen last year that the price skyrocket up.