Bitcoin will likely reach $200,000 in the next five or 10 years as a hedge against global uncertainty, according to venture capitalist Chamath Palihapitiya.
“We really do need to have some kind of, you know, insurance we can keep under our pillow that gives us some access to an uncorrelated hedge,” he told CNBC in an interview on Thursday.
Since the pandemic, the United States has printed and spent massive sums of dollars that can trigger inflation.
In October 2020, Fidelity released a report showing Bitcoin’s lack of price correlation to other markets, such as gold and stocks.
