latest Crypto World News

Search and discover the latest Cryptocurrency updated Stories in Categories.

24-7 Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources.

Invest 1% In Bitcoin As Warren Buffett Is Wrong, Says Virgin Galactic Chairman Chamath Palihapitiya

Virgin Galactic chairman and founder of investment company Social Capital, Chamath Palihapitiya, opposed Warren Buffett’s negative views on Bitcoin. Moreover, he noted that everyone should allocate a portion of their investment portfolio in the largest digital asset.
1% In Bitcoin
Palihapitiya, who is also an early investor in Facebook, recently appeared in CNBC’s Squawk Box. While speaking about the coronavirus’s effect on the traditional markets, he also mentioned Bitcoin’s involvement in the scene.
Palihapitiya believes that the largest cryptocurrency is entirely uncorrelated with any other financial asset. As such, people should invest some portion in it:
“Everybody should have 1% of their assets in Bitcoin, specifically. I think it’s just a fantastic hedge. It would be great that an average individual citizen of any country of the world has an uncorrelated hedge. Every financial instrument is correlated, unless Bitcoin.”
However, he thinks that buying large portions of BTC when the financial markets are plummeting is an “idiotic strategy.” Instead, people should do it gradually over time:
“You quietly over some period of time accumulate a position and then just never look at it again and hope that that insurance under the mattress never has to come due. But, if it does, it will protect you.”
When people look at Bitcoin as a hedge, they should examine the volumes instead of only focusing on the price, Palihapitiya added.
Back in 2017, he made a daring prediction, saying that Bitcoin will reach $1 million in the next 20 years.
Warren Buffett Is Wrong
Earlier this week, Cryptopotato reported Buffett’s newest bashing at the cryptocurrency space. The prominent U.S. investor said that all digital assets, including Bitcoin, have no value.
Palihapitiya, however, strongly disagreed with Buffett’s opinion on the matter. Social Capital’s founder noted that he had learned a lot from the Oracle of Omaha, but he is “completely wrong and outdated” on Bitcoin.
It’s also worth noting that Tim Draper, the famous American venture capital investor, also refuted Buffett’s claims recently. He said that Buffett has 50% of its holdings in banks and insurance companies, which “are not going to do well in this new decentralized economy.”
Featured image courtesy of CNBC

Enjoy reading? Please share:






The post Invest 1% In Bitcoin As Warren Buffett Is Wrong, Says Virgin Galactic Chairman Chamath Palihapitiya appeared first on CryptoPotato . shares this Contents with License.

Thank you for Share!


Search Crypto News


The latest Top News, from up to 70 Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed simple and intuitive, usable by all Devices, fast and effective.


  • BlockChain Knowledge Base

  • Cryptocurrency Knowledge Base

  • Bitcoin Knowledge Base

    BITRSS | Submit Your Crypto NEWS not only Update the Sources several time a day and allow Visitors to follow and comment on the latest News; We accept submissions of your own Bitcoin and related Crypto stories.

    Our Team will evaluate in depth, human touch, if the Rss and Feeds Sources, will be in line with our policy.

    Protected by Copyscape

    Please support if you like it, share your favorite News to your Socials!

24h Most Popular News