Billionaire Investor Predicts Bitcoin (BTC) Could Hit Half a Million by Next Year
CryptoNewsTerminal Staff03 Jun, 2024
Billionaire Investor Predicts Bitcoin (BTC) Could Hit Half a Million by Next Year
According to a report by Daily Hodl, billionaire investor Chamath Palihapitiya, founder of Social Capital, has predicted that "BTC can easily go to half a million dollars by 2025." Palihapitiya, a prominent Bitcoin advocate, added, "I had a conversation recently with Wences Casares of Xapo, and his point was that increasingly, countries are going to use BTC as their 'currency.' I think it's totally possible that BTC completely replaces gold." Palihapitiya's bullish prediction is based on his belief that Bitcoin is becoming increasingly accepted as a legitimate store of value and medium of exchange. He points to the growing number of institutional investors who are adding Bitcoin to their portfolios, as well as the increasing use of Bitcoin for cross-border payments and remittances. If Palihapitiya's prediction comes true, it would represent a significant increase in the value of Bitcoin. At the time of writing, Bitcoin is trading at around $40,000. A rise to $500,000 would represent a more than tenfold increase in value.
