|'Bitcoin has effectively replaced gold' - Chamath Palihapitiya|
Social Capital founder Chamath Palihapitiya sees gold giving way to bitcoin.
Palihapitiya was interviewed by CNBC’s Scott Wapner at the Delivering Alpha conference on Wednesday.
Palihapitiya referenced gold when he was asked if he wanted to make a price prediction for bitcoin. CNBC said that Palihapitiya made predictions as high as $200,000 a bitcoin earlier in the year. Palihapitiya deferred on giving a number during the interview.
"It's very hard for me to give a price prediction, but I can pretty confidently say that bitcoin has effectively replaced gold," said Chamath.
"I can pretty confidently say that #bitcoin has effectively replaced gold," says @Chamath.
"And it will continue to do so... that market cap is just going to grow." #DeliveringAlpha pic.twitter.com/KFL4TywfD3
— Delivering Alpha (@DeliveringAlpha) September 29, 2021