Chamath Palihapitiya Now Predicts Bitcoin Price Will Fall to Zero

Palihapitiya Reverses Course on Bitcoin

Chamath Palihapitiya, founder of Social Capital, has dramatically shifted his outlook on Bitcoin (BTC), now warning the cryptocurrency could eventually be worth nothing. This reversal comes after years of publicly bullish statements, including a prediction that BTC would reach $1 million.

Palihapitiya’s current concern centers on the potential for artificial intelligence (AI) to compromise the Bitcoin protocol. He suggests that AI will eventually “hack” Bitcoin, leading to a complete loss of value. The investor did not elaborate on the specific mechanisms by which AI might achieve this.

This about-face aligns with a pattern of shifting positions by Palihapitiya. He previously faced scrutiny for selling Tesla stock while simultaneously praising the company, and has acknowledged issues within his Special Purpose Acquisition Company (SPAC) ventures. His past investment decisions and public commentary have drawn both praise and criticism.

The investor's comments arrive as Bitcoin trades around $67,000, having experienced substantial gains in 2024. Despite the current price strength, Palihapitiya’s warning introduces a contrarian perspective on the long-term viability of the leading cryptocurrency.

Source: Bitcoin.com News