Billionaire venture capitalist Chamath Palihapitiya says Bitcoin is approaching its watershed moment as BTC makes its way into American households.
In the latest episode of the All-In Podcast, Palihapitiya says the approval of spot market Bitcoin exchange-traded funds (ETFs) is changing the game for BTC.
According to the venture capitalist, it’s still early days for Bitcoin and a time will come when BTC becomes the talk of the nation.
“We’re going to get to a tipping point where everybody really talks about this. I still don’t think we are there yet. I think we’re just at the beginning, but when you see the inflows into these ETFs, it’s a very big deal because it just allows every mom-and-pop individual to buy some to the extent that they want to own or they want to speculate on it, whatever it is.
So I think it’s been a very big year, and I think that psychologically it’s proven a lot of folks wrong, and it’s a setup for something really constructive.
The other thing I’ll say is that it’s not just Bitcoin but as goes Bitcoin, there are a handful of other things. People are now speculating that there’s going to be an Ethereum ETF that gets approved as well because if you approve one, there’s probably legitimate cause to approve a few others, so these things are becoming part of the financial fabric, and I think that that should not be underestimated.”
At time of writing, Bitcoin is trading for $69,465.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Generated Image: Midjourney