Tech investor Chamath Palihapitiya, who said two years ago that Bitcoin (BTC) replaced gold and suggested that BTC will climb to $ 200,000, has a much more cautious view of cryptocurrencies these days.
Palihapitiya Claims Cryptocurrency Industry Is Dead In The US
“Crypto is dead in America,” Palihapitiya said in a podcast he attended.
Palihapitiya, in his view, blamed the crypto's demise in large part on regulators who were much more aggressive in chasing bad guys in the industry.
Gary Gensler, Chairman of the Securities and Exchange Commission (SEC), said that crypto trading platforms must comply with strict US securities laws.
Gensler recently linked the collapse of Silicon Valley Bank to the crypto industry while answering questions in front of parliament.
“Gensler even blamed crypto for the banking crisis, United States officials have firmly pointed their guns at crypto,” Palihapitiya said. said.
“They were probably the most threatening to the order,” Palihapitiya said, referring to crypto companies. “And to be fair to regulators, they were the ones pushing the boundaries more than any other sector of the startup economy,” he added.
"Now they're paying for it, it's time to pay the bill," Palihapitiya said.
Palihapitiya made a statement on CNBC in early 2021, suggesting that Bitcoin would rise from $39,000 at the time to $100,000 and then to $200,000.
The famous name said the following about this issue:
“I don't know at what term, 5 years, 10 years, but it's getting there.”
*Not investment advice.