- Chamatha Paliphatia, billionaire and the CEO of social capital, recently gave a statement that underlined the phase of transition undergone by the Bitcoin sector and needed to be acknowledged by everyone.
- He added that such a phase or transition was necessary to recognize BTC’s position in the market.
- The billionaire also forecasts a period when the volatile nature of such assets reduces to a significant level, thereby increasing its potential to attract global investor giants.
Social Capital’s CEO expressed his views on the same during a conversation with Morgan Creek and co-founder Anthony Pompliano, an individual known for his extended support in the crypto-community.
He added that such a phase or transition was necessary to recognize BTC’s position in the market. However, he also stressed upon the point that the bitcoin should be accounted as a speculative tool on which much reliance should not be placed keeping in mind the fluctuating nature of the asset.
The credibility of an asset very much depends upon the volatility of the same. The more volatile the asset is, the much unreliable it becomes. When compared to other assets in the market like the Dollars or the stocks, cryptocurrencies are unstable and thus volatile. This, in turn, affects the trust of the investors who tend to invest in such assets.
A note for the times to come
Meanwhile, the billionaire also forecasts a period when the volatile nature of such assets reduces to a significant level, thereby increasing its potential to attract global investor giants. This prediction is based on the expected exit of speculators from the asset. He went on to add that an increase in infrastructural development concerning the operations of the BTC sector will eventually improve the status of the asset in the global market, ultimately to settle as an investment refuge shortly.
The co-founder also expressed his support on the above-mentioned fact by describing the potential of the asset to become a game-changer in the global market. The entrepreneur also opined that it was high time for developed countries across the world to make BTC as their national country.