LIVEBillionaire Investor Gives Price Target for Bitcoin
Billionaire investor Chamath Palihapitiya announced his long-term target for the Bitcoin (BTC) price.
Chamath Palihapitiya examined the impact of halving on the Bitcoin price. The billionaire investor said Bitcoin could be $500,000 by October 2025.
Silicon Valley investor Palihapitiya is the founder of Social Capital.
In the first six months after the first halving, the price of bitcoin rose more than 10 times. After the second and third halvings, there was an increase of 1.34 and 1.79 times. In the 18 months after the halving, these numbers increased to 27.92 and 7.80 times.
Palihapitiya stated that this year's halving differed from others thanks to spot exchange traded funds (ETF). The famous investor said that if Bitcoin shows a performance similar to the second and third halving, it can rise to half a million dollars.
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