Chamath Palihapitiya On Bitcoin

Bitcoin ATMdry2 / Pixabay

There are plenty of Bitcoin bears out there, including JPMorgan Chase CEO Jamie Dimon. It’s nice to hear from someone with a brighter outlook.

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Social Capital's founder, Chamath Palihapitiya has said he is massively long Bitcoin. Chamath says the genie is out of the bottle and there's no putting it back in. That is, there's nothing government regulation can do to stop the use of Bitcoin, they can only try to hinder trading. Ultimately, it's the disruptive power of the blockchain that most, but not Chamath, are overlooking.

Chamath notes that he and his fund are massively long Bitcoin and have been for years. In truth, more companies need to embrace the blockchain and its potential. Chamath spoke at the Delivering Alpha conference about being a disruptor, noting, "Technology companies are fundamentally dynamic organisms … [There are] so many assets that are fundamentally impaired due to technology."

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