Bitcoin Founder Believes The Currency is Unstoppable. Chamath Palihapitiya proved to have one of the greatest instincts when it comes to the financial market. Back when Facebook was in its initial stages of development, Palihapitiya recognized the potential of the company and he invested huge amounts of money in the company. Several years later, Facebook is worth billions of dollars and Palihapitiya has made a lot of money since his early investments.
Besides investing in Facebook, Palihapitiya also put his money in Bitcoin, also in the very beginning. From this perspective, thanks to his business instinct, Palihapitiya has made a huge amount of money out of those two investments. Since the starting point of Facebook and Bitcoin, Palihapitiya has been supporting both entities urging people to invest as it could only bring profit for them.
After all those gains, Palihapitiya is still greatly involved in the digital currency market as well as in the business with Facebook. A couple of days ago, Palihapitiya participated at the 2017 Delivering Conference in New York where he spoke about the digital currency market. During that conference, Chamath Palihapitiya spoke about the different types of challenges that digital currency market is currently facing.
When asked about the comments that CEO of J.P. Morgan made about the Bitcoin, Chamath Palihapitiya said that the real situation with Bitcoin is far from the picture that Jamie Dimon has been painting with those comments. Chamath Palihapitiya also said that at this point, there is nothing that could stop Bitcoin and other digital currencies and their break into the mainstream financial market. The reason why it is impossible to stop Bitcoin is the fact that there is nothing that can control it.
Some governments have tried to impose different types of control on Bitcoin but considering that Bitcoin is a global phenomenon that had almost no effect on the market and the value of Bitcoin. Chamath Palihapitiya said that instead of discussing whether or not to ban Bitcoin and whether or not it can be considered as a real currency, we should be focusing on finding the right ways to use that digital currency for the benefit of all people.
According to Palihapitiya, the genie is out of the bottle and it will be very hard for anyone to close that bottle. Bitcoin has already proved to be very useful in different aspects of human life and that is what should be our main focus these days, said Chamath Palihapitiya. Looking back, in the last month, there were several attempts to bring down the Bitcoin and all those attempts have failed greatly which just proves Palihapitiya’s claim that at this moment Bitcoin is just too big to fail and that it has gained huge power that nobody can take away.
Bitcoin’s value has dropped significantly during the last week, but in the first couple of days of this week, the value of that digital currency has risen once again and it getting close to the all-time high.
Written by Vedran Ostojic
