Bitcoin is a modern-day replacement for gold, venture capitalist Chamath Palihapitiya said in a television interview. Palihapitiya was being interviewed by CNBC News host Scott Wapner at the Delivering Alpha conference on September 29. When asked to estimate how high the value of bitcoin could rise, Palihapitiya did not provide any figures, but replied that the cryptocurrency could outperform gold.
“It is very difficult for me to give price forecasts, but I can say with great confidence that Bitcoin has effectively replaced gold,” said the 45-year-old venture capitalist.
“I can say with great confidence that #bitcoin effectively replaced sleeping,” says @ Chamath.
“And it will continue to do so … that the market cap is just going to increase.” #DeliveringAlpha pic.twitter.com/KFL4TywfD3
— Delivering Alpha (@DeliveringAlpha) September 29, 2021
Palihapitiya’s statement comes just days after China imposed complete ban On crypto trading. This decision of China has caused great turmoil in the crypto market.
Despite seeing a slight drop in price for two consecutive days, bitcoin price Rose again on Thursday, September 30. This morning, the cryptocurrency started trading at Rs. 34,28,765 (about $46,116), According to Gadgets 360 Crypto Tracker.
according to a research report good By Furtune Business Insights, the global cryptocurrency market is projected to reach $1,758 million by 2027.
Cryptocurrency is an unregulated digital currency, is not legal tender and is subject to market risks. The information in this article is not intended to be financial advice, trading advice or any other advice or a recommendation of any kind offered or endorsed by NDTV. NDTV shall not be liable for any loss arising out of any investment based on any alleged recommendation, forecast or any other information contained in the article.
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