Palihapitiya doesn’t really see any other path to Bitcoin’s success other than that completefinancial breakdown.
He believes there aren’t any much easier-to-use products that will serve as virtual payment mechanisms.
He also said his first investment in Bitcoin was a purchase of 1 million BTC back in 2010 when the cryptocurrency was valued at around $80.
Today, that sum is worth more than $2 billion.
He said:
“There’s a well-known person in the Bitcoin ecosystem. Hisnameis Wences Casares. He was the one that introduced it to me in 2010, and we were actually going to Las Vegas for his 40th birthday. And that’s when he pitched me on it. And I remember landing three days later, and I called my family office and said, ‘Buy a million Bitcoin.’ That’s how I started. It was $80 or something at the time. And it just sounded kind of really interesting.
But then it took me a few years to really understand it. I didn’t totally understand all of the mechanics of it and, to be honest with you, I’ve forgotten most of the mechanics now. I studied it… I made an underwriting decision to buy and to never think about it again. And, by and large, I’ve never thought about it again.
I remember my family office flipped out when Bitcoin was $20,000 a coin, they were like, ‘Uhhh,’ and I was like ‘Guys, don’t tell me, I don’t wanna know. Just take it off the balance sheet, don’t ever look at it, keep it at the cost, and don’t get psychologically affected by this number.’”
Let me know in the comments below what would you do if you had generational wealth.
source
@theking19777
1,000,000 times 104,000 is 104,000,000,000
@youtoobe169
Wow, this guy doesn't do any research to make a video.
@Camelotskin
Scam Artist unfortunately
@packman4664
Bitcoin was never $80 in 2010
@StupidRalph
Smuck insurance
@strizhi6717
The guy was rich to begin with so not impressive
@pradeeproy4862
Just learn the name so that you dont trust what he says. Couple of years back he backed so many spac. People trusted and bought it and they worth nothing today. So be careful what people say
@stevenwoeste7428
Sorry, but the math does not add up. If he owned 1,000,000 Bitcoins they would be worth about 100 billion dollars at today's (1/19/2025) price.
@srk.1
Im amazed how he cluld be able to hold for so long and also keep it all so safe.
@JacksonFish-w9f
elon musk is apparently going to be worth 1 trillion in 5 years
@anwarjabar
He prop sold it a year later fake video
@TheGav0071
He got screwed if he paid $80 in 2010 because the highest BTC ever went in 2010 was 39 cents (11/6). Look it up.
@baal-jano
Fake information
@Wazer2
FAKE
@StarshipSatoshi
Uh, no he didn’t
@zero-ui1ew
Are u stupid? Bitcoin was worth a cent in 2010 so if he bought a million it wouldve just cost him 10k usd
@cbrreezzyy69
Dude can’t even do 2 minutes worth of research before making a dumb dancing video. Dislike button incoming
@jacobhendrickson8935
And when he turns the Hampton into affordable low cost housing he can then watch them completely turn the Hamptons into a large trash bin. I believe in helping others but would choose to help those who have worked hard and would take care of the things they have earned. If he turns the hamptons into low cost housing they will literally use the elevator shafts as garbage cans.
@bonitoflakes8881
This concept of supply and demand is fucking ridiculous.
Turning intangible things into tangible is some next level bullshit.
@nasseralnaimi6768
Bitcoin price was 0.05$ in 2010.
@Quan1992
You contradict yourself. If bitcoin reaches 1 million he will be worth 1 trillion. But bitcoin is 1/10th of that and he's only worth 2 billion?
@veronicalogotheti1162
Not true