After Paul Tudor Jones, Chamath Palihapitya, another Billionaire VC investor came out on CNBC yesterday, expressing his fondness for Bitcoin and its’ non-correlational with the stock markets. Nevertheless, their bet is actually based on opposing views for the economy. While PTJ is banking on BTC as an inflationary hedge, Chamath is suggesting a deflationary spiral.
After blasting the current U.S. government bailouts on the big corporations and hedge funds, Social Capital CEO and Golden State Warriors owner, Chamath Palihapitiya, agreed with Paul Tudor Jones move to own Bitcoin due to the current “massive deflationary spiral”. Bitcoin’s halving is barely a day in and the sentiments on the market are rightly
Early Bitcoin investor, Venture Capitalist and a disciple of Warren Buffet, Chamath Palihapitiya is still bullish on Bitcoin. Chamath who is the CEO and founder of Social Capital has also worked with Facebook during its early days. Chamath has first bought Bitcoins when it was around $100 even less. Reportedly, he has been accumulating Bitcoins