Bitcoin Thrives in a World of Uncertainty These days, it seems as if the world has been spiraling wildly out of control. From the domestic terrorist siege at the U.S. Capitol to the COVID-19 pandemic and global warming, the planet has been experiencing a whole host of traumatic situations recently. During times like these, people have traditionally turned to investments such as gold — tangible assets that are not necessarily subject to the whims of a government. In 2021, however, what everyone seems to want is digital gold — Bitcoin.
A Bull Run Starting Late 2020 It had been a few years since Bitcoin had hit record highs. During the bull run of 2017, many new traders became cocky, perhaps investing a lot more than they should have. With Bitcoin, sometimes the excitement can cancel out any sense of warning or reality. As has happened a few times before, the inevitable bear market arrived — and many lost a great deal of money. After all, there were those who had sunk their life savings into BTC — without much of an idea of what they were even doing. It wasn't long before certain credit card companies were banning Bitcoin purchases, undoubtedly because they had discovered that many 2017 investors simply went broke as a result of their wishful thinking.
Enter Shrewd Billionaires Like Chamath Palihapitiya As a venture capitalist, Chamath Palihapitiya boasts a unique perspective when it comes to BTC. And his view is decidedly bullish. Although BTC hovers at around $40,000 right now, Palihapitiya sees it reaching at least $200,000 — and in relatively short order. As a billionaire and venture capitalist, Palihapitiya keeps a close eye on the way in which leaders and governments are influencing their people. These days, he sees an unprecedented amount of leaders who cannot be trusted. As a result, he believes that it makes sense for people to flock to BTC. After when people can't have faith in fiat, something has to replace it.