Bitcoin’s Future: Chamath Palihapitiya’s Predictions

Billionaire investor and tech entrepreneur Chamath Palihapitiya has suggested that Bitcoin (BTC) could reach $1.14 million in the current cycle and potentially replace gold in the long run.

Palihapitiya noted that Bitcoin has historically experienced price increases after halvings. He mentioned that the market has reached a “turning point” with the introduction of spot Bitcoin ETFs, which are accelerating institutional adoption of Bitcoin and significantly impacting its price.

While emphasizing that his calculations are based on averages from past cycles and are not intended as investment advice, he highlighted the “very significant potential for value growth” by looking at past data.

He acknowledged that many countries might not accept Bitcoin as their official currency but predicted that more countries will tend toward a dual-currency model. In this scenario, local currency would be used for daily transactions, while Bitcoin would serve as a permanent store of value.

“If these price levels are reached, Bitcoin will completely take over the role of gold,” Palihapitiya stated, arguing that it is now inevitable for BTC to become a global store of value.

This is not investment advice.