[NEWS] Bitcoin : about to reach millions or collapse on its own ?

[NEWS] Bitcoin : about to reach millions or collapse on its own ?

By McAlex7 | justsomenews | 7 Apr 2020

Bitcoin has already reach peaks and will probably increase in value, however it could also completely disappear. Indeed according to Virgin Galactic president and former executive in Facebook Chamath Palihapitiya said the probability of these 2 scenarios is equivalent. So let me drive you trough this interesting point of view.


Chamath has a binary vision about Bitcoin, but he also says : what BTC will do is create a near gold standard. 

"It will create an index, except that instead of having to own gold, when belonging to the central banks, it is an instrument whose value is determined by and between its participants, and which belongs to everyone", says Chamath Palihapitiya.

Chamath added that if Bitcoin will never be the same as gold, it could be considered a version 2.0 of gold.

"It replaces the value transfer method you need for the currency to have value", has stated the PDG.


However, he also stressed that such a replacement of fiduciary currencies by BTC can only happen if the US dollar, for whatever reason, ends up in serious difficulty. In the past he considered Bitcoin as a "weak insurance" but today he admits that the odds are greater than this "insurance" is useful to him. Furthermore he said that if the probability of this insurance working was 1%, it is unfortunately now 5 or 10%, and there is a good chance that by 2030 Bitcoin could also disappear, referring to the massive levels of debt and unfunded pension liabilities found worldwide.

Today Chamath Palihapitiya is a defender of the use of bitcoins in any traditional investment portfolio, saying that the BTC is "a fantastic cover" and that everyone should invest 1% of his assets there as an "insurance under the mattress". He discusses more in the interview so I put it right below if you're interested to know more. 

I think his point of view was very interesting therefore I wanted to share it with you, future is not fully predictable especially in the Cryptocurrency world, we will see what Bitcoin holds for us.


i'm alex and i'm here to bring you news, informations and some of my knowledge about the cryptocurrency world !


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