- Bitcoin holder and CEO of Social Capital turns down governor bid to continue trading in crypto.
- Chamath Palihapitiya is a billionaire who has been holding Bitcoin since its early days.
- He believes that Bitcoin is the future and that its price could even go up to $200,000.
Bitcoin holder and CEO of Social Capital, Chamath Palihapitiya chose crypto over politics. After days of hinting at a possible run for the spot of California’s state governor, he says he is ‘not ready’.
The business venture capitalist has been very vocal about his dismay with the current Governor of California. Palihapitiya tweeted ‘It’s on. #RecallGavinNewson’ with a link to what seemed to be a campaign website.
The link was made by a fellow supporter. It lists all the changes the run would bring. Tweeting the link showed Chamath affirming the content on the website. However, it seems that the billionaire has changed his mind.
The former Facebook executive announced his decision on the Feb 2nd ‘The All In Podcast’ episode. During the episode investor David Sacks prompted Chamath to run for governor.
In reply, he says that in all honesty, he doesn’t feel like he is ready for the role. Instead, he says his focus is fully on figuring out his business and focusing on its future.
Additionally, he says at the moment his main focus is on a battery project. Thus, he wants to see the project through. This is why he will not be running for governor as doing so would mean putting the battery project on hold.
Palihapitiya was one of Bitcoin‘s early investors. He said he owned 100,000 Bitcoin at a conference in 2011. He also disclosed that his firm has owned Bitcoin since 2013.
Furthermore, he believes that Bitcoin will reach $200,000. He said in an interview that this could happen as more investors realize Bitcoin’s true potential.