➡️ Leverage OPM (Other People’s Money):

Virgin Galactic Chairman Chamath Palihapitiya, the investing legend who bought 1,000,000 Bitcoin in 2013 for just $80 per BTC reveals his strategy for catching the next big trade, predicting that the Bitcoin price could reach a million dollars.

He further suggested that everybody should have 1% of their assets in BTC since it is “a fantastic hedge.”

“In 2013, I bought a lot and at one point I think I had almost 5% of all the bitcoins. My basis is about 80 bucks a coin. I’ve never bought more.”

“Most of my bitcoin now sits with a company and they use it for trading purposes. They use it to run a bunch of other strategies,” he added. “I did that mostly for safety and security and peace of mind. I didn’t want to deal with it. I wanted to own equity in the business. That equity can be hedged.

That equity can be tax structured advantageously, and then it allows them to run a big business which generates cash, and I can get a cash and dividend stream.” He proceeded to confirm, “so I have not bought since I initially basically wrote that article for Bloomberg in 2013.”

He then shared his Bitcoin prediction of how high he thinks the BTC price could be over the next 10 years.

“It is a 10-year trajectory,” he began. “I’ve always thought of bitcoin as a very binary investment, whether it goes from 80 to 8,000 to 6,000 to 3,000 to 13,000, it doesn’t matter.” Noting that bitcoin’s price will be “either zero or it’s millions,” Palihapitiya asserted:

“What it will do is it will create a quasi gold standard. It’ll create an index, except instead of having to own gold where gold is owned by central banks, it is an instrument that has value that’s determined in between its participants, and it’s owned by everybody.”

“Everybody should probably have 1% of their assets in bitcoin specifically. I still believe that today and I think it [bitcoin] is just a fantastic hedge.”

“I think a reasonable strategy is to say 1% of my net worth should be in something that is completely uncorrelated to the world and how the world works.”

The Virgin Galactic chairman suggested going into bitcoin “quietly” and letting the investment accumulate. He concluded, “Then you just never look at it again and hope that that insurance under the mattress never has to come due,” adding:

“But if it does, it will protect you because that thing will be hundreds of thousands or a million dollars a coin.”

He says smart investors find one big winner and then ride it hard.

“Investing 101: Don’t confuse slugging percentage with batting average. The former is being the cool kid in high school – you’re a rare thing and everyone wants to know the secret. The latter is like going to the prom with your mom. Everyone talks about it, but not kindly.”

“[Savvy investors] know when to capitulate, buy up, when to be ‘risk on’ and ride the winners. They care more about owning a big piece of one winner vs irrelevant pieces in many winners.“

Palihapitiya made a big bet on Bitcoin in 2013. At the time, the price of the king coin was only around $80. With the flagship cryptocurrency currently hovering at over $10,000, his investment is now worth over $10 billion.

In other trending Bitcoin News today:

Bitcoin Price Unfazed After $150M Hack Of Major Exchange KuCoin

In an official statement, KuCoin Global CEO Johnny Lyu confirmed a major hacking attack on Sep. 26. The breach affected the firm’s Bitcoin (BTC), Ether (ETH), and ERC20 hot wallets, after private keys were leaked. Reports estimate the breach to have affected $150 million in user funds.

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Show Notes / News Resources:
– Catching the Next Big Trade:
– $1M Bitcoin Price Prediction:
– Investing 101:
– $150M KuCoin Hack:

DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky and so is investing into Cryptocurrency. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

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