Former Facebook director: Bitcoin price will rise to 7 digits or to 0




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In one discussions recently with Anthony Pompliano - partner of Morgan Creek Digital, Mr. Chamath Palihapitiya - CEO of Social Capital and former CEO of Facebook, has confirmed that Bitcoin (BTC) will reach the price of "millions" or about " 0 ”.


For Palihapitiya, the question of whether or not Bitcoin will succeed will be determined based on whether the creators of the current financial system continue on the current path towards debasement. is not.


BTC price will go to the moon or to the abyss


Palihapitiya said that BTC to achieve 100 times the current price lies in reducing public confidence in the financial system and money.


"Bitcoin will reach its peak if the debasement is likely to happen, it will really emerge as a flight to safety," he stated:



“It's driving the car, slowly, but it's driving towards a cliff. And then it will drive much faster, down the cliff or up that hill. And at the end is a huge brick wall. ”



Palihapitiya's enormous prediction price is in the long run, with the previous warning from the former Facebook director that there is a "real opportunity by 2030, we cannot find a way out of the crisis." he continued:



“The only way to circumvent the return of inflation is basically to create some approximate form of a gold standard, but it will be nearly impossible to do that between the government and the central banks. They will never agree on a tool and they will never agree on exchange rates. But after that, everyone can decide to do it with Bitcoin. ”



Cryptocurrencies are too volatile to replace fiat


Palihapitiya disagreed with the notion that Bitcoin could replace fiat currencies as a means of global exchange, saying that Bitcoin was "too volatile to become reliable".



“If you have a case of replacing fiat currencies, one thing you have to consider is the volatility of the US dollar. You cannot replace it with something that is more volatile. It will not work. ”



The CEO of Social Capital argues that Bitcoin's volatility has pushed it into a "ghetto of traders and speculators, right now, that's where we are." We were in that slum. ”


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According to CoinTelegraph
Translated by ToiYeuBitcoin