Virgin Galactic’s chairman and CEO of Social Capital, Chamath Palihapitiya, says bitcoin has effectively replaced gold. Having predicted that the price of the cryptocurrency would hit $200,000, the executive said bitcoin’s “market cap is just going to grow.” Palihapitiya: ‘I Can Pretty Confidently Say That Bitcoin Has Effectively Replaced Gold’ Virgin Galactic Chairman Chamath Palihapitiya talked about bitcoin in an interview with CNBC at the Delivering Alpha Conference last week. The billionaire executive is also the founder and CEO of Social Capital. Earlier this year, Palihapitiya predicted that the price of BTC would hit $200K in about five years. Commenting on his price prediction, he said Wednesday: It’s very hard for me sitting here to give you a price prediction, but I can pretty confidently say that bitcoin, I think, has effectively replaced gold. And it will continue to do so. And so that market cap is just going to grow. The price of bitcoin is $48,093 and its marke
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