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Bitcoin Is the Most Profound Iteration of the Internet, According to Chairman of Virgin Galactic

Billionaire and enterprise tycoon Chamath Palihapitiya says that Bitcoin’s community is the finest model of the web we now have in the present day.

In a new interview with CNBC, the CEO of Virgin Galactic says that large tech gamers comparable to Google and Facebook have dominated the first two variations of the web by creating and organizing a lot of what individuals work together with on-line.

But Palihapitiya, a former government of Facebook himself, believes that Bitcoin (BTC) and different decentralized peer-to-peer cryptocurrencies can change that.

“[Web 3.0] is rebuilding all of that stuff with out an apparent chief. It’s utterly headless. It’s completely peer-to-peer. And I feel that that’s each scary and exhilarating.”

Palihapitiya additionally believes that Bitcoin is a superb hedge in opposition to inflation and that it has “basically replaced gold.

“I’m very involved about medium-term inflation. In an inflationary atmosphere, in my very simplistic view of the world, I would like to personal three issues: hypergrowth [assets]… cash-generative property… after which I would like to personal non-correlated property [such as BTC and Solana].”

Despite previously predicting that BTC might attain a worth of over $200,000, Palihapitiya now says he doesn’t have a stable forecast for the token.

“It’s very arduous for me sitting right here to provide you with a worth prediction, however I can fairly confidently say that Bitcoin, I feel, has successfully changed gold.

It will proceed to accomplish that. And in order that market cap is simply going to develop.”

Bitcoin is buying and selling at $43,423 at time of writing, in accordance to CoinGecko.

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Featured Image: Shutterstock/GrandeDuc/Andy Chipus

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