The current Bitcoin boom is currently taking the world by storm. The fact that Bitcoin (BTC) has breached the $90K mark in recent times speaks volumes about its trending surge and the interest that the token has been receiving as of late. Chamath Palipithiya, a star investor and billionaire, recently shared his insights on Bitcoin’s current trajectory, lamenting how he lost billions because he sold his BTC holding early.
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Chamath Palipithiya’s Bitcoin Blunder: A Regret Hitting Hard
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Billionaire investor and renowned venture capitalist, Chamath Palipithiya is a leading face in the financial world. A video snippet of Palihapitiya is making the rounds on X, in which the investor is admitting to losing billions because he sold his Bitcoin holding early before the token could hit a stable price mark.
Palihapitiya spoke about his multibillion-dollar mistake on the recent All In One podcast on X, adding how his colleague and peers’ uncertainty concerning the token compelled him to offload a significant amount of BTC. Palihapitiya later admitted how the sale was profitable at the time, but as Bitcoin touched $90K in recent times, that sale would have made a significant profit now as compared to earlier.
“You know honestly, you know what I actually think about the Bitcoin that I sold, you know? I had a bunch of bitcoin in my funds when I managed outside capital. You know that’s a huge mistake. I don’t know a $3 to $4 billion dollar mistake in growing now because my partners at the time capitulated and I wanted to be a good team leader. And we distributed it, and it was profitable, but obviously, I should have sold it. It would have made a lot more money.”
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Is The Token’s Rise To $100K On Cards This Year?
Bitcoin is currently sitting at $91K, slowly inching towards claiming the coveted $100K mark.
According to CoinCodex, Bitcoin may very well surge by nearly 19% to hit a new price mark of $109K by the end of this month.
“According to our current BTC price prediction, the price of Bitcoin is predicted to rise by 19.73% and reach $109,146 by December 19, 2024. Per our technical indicators, the current sentiment is bullish while the Fear & Greed Index is showing 83 (extreme greed). Bitcoin recorded 17/30 (57%) green days with 11.63% price volatility over the last 30 days. Based on the Bitcoin forecast, it’s now a good time to buy Bitcoin.”
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