Billionaire Chamath Palihapitya says Bitcoin’s explosive rise will pale in comparison to what comes next
Billionaire venture capitalist and early Bitcoin (BTC) investor Chamath Palihapitya says he believes a number of emerging trends offer the biggest opportunity of his investment career.
In a fireside talk at the Wharton School, the CEO of Social Capital says he will spend all his time for the next two decades working on important global issues.
“That’s where I’m going to lead this fire hose. These energy generation problems, these computational problems, these life science problems. There are probably no major things to work on.”
Social Capital, Palihapitya’s Menlo Park-based investment firm, has made a number of investments in companies working in life sciences, clean energy and technology, including:
- Syapse – a company that seeks to advance care in the real world
- Proterra – a company that aims to develop buses powered by electric batteries
- Groq – a company that seeks to accelerate the workload in artificial intelligence.
According to Palihapitiya, addressing these issues could generate trillions of dollars in wealth distributed among investors. He emphasizes that those who understand the trends would be “incredibly wealthy and rich”.
He also says these issues could present a bigger opportunity than his Bitcoin accumulation more than a decade ago when BTC was trading at around $100.
“That’s what my gut tells me is the biggest opportunity in my investing career, and I’ve never felt that way before. I didn’t even feel that way about Bitcoin. I was the guy who owned 5% of this stuff in 2011. My dollar cost averaging was like $90 or $100 even when I knew it was going to win. I’m telling you it’s going to pale in comparison to this.”
At the time of writing, Bitcoin is trading at $23,577, a staggering 23,477% increase from its 2011 price.
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Featured image: Shutterstock/Sensvector/Kanea
