cryptocurrency

Billionaire Bitcoin Bulls

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Billionaire investors and entrepreneurs like Chamath Palihapitiya, Paul Tudor Jones and Jack Dorsey are betting on Bitcoin. These guys “made it” elsewhere. So why are they turning to Bitcoin? For some of them, Bitcoin seems to be a pure opportunity play. For others, a more ideological bet on the future.

Chamath Palihapitiya on Bitcoin
Chamath has been very public about his Bitcoin bet since 2013. A time when most people mocked anything Bitcoin related. Bold.

Chamath Palihapitiya on Bitcoin as a hedge, July 2020: “I’ll say the same thing as I said 6 years ago, it’s the single best hedge against the traditional financial infrastructure.”

Chamath on banks adopting Bitcoin, Oct 2020:
After PayPal‘a news, every major bank is having a meeting about how to support bitcoin. It’s no longer optional… pic.twitter.com/eQrdfa4KJ7

— Chamath Palihapitiya (@chamath) October 21, 2020
Bill Miller on Bitcoin
Bill Miller has been a bitcoin bull since 2014/15 when he first started buying.
Launched a bitcoin hedgefund in 2018.
Strongly recommends exposure to Bitcoin, November 2020.
Bitcoin has rallied 45% this month, jumped above $16K today. Bill Miller also tells @KellyCNBC @CNBCTheExchange he ‘strongly’ recommends investing 👀 pic.twitter.com/qPgPvM1g1b

— Kate Rooney (@Kr00ney) November 6, 2020
“I think every major bank, every major investment bank, every major high net worth firm is going to eventually have some exposure to bitcoin or what’s like it, which is gold or some kind of commodities,”.

Paul Tudor Jones on Bitcoin
Paul Tudor Jones on Bitcoin, May 2020: “We’re witnessing the “birthing of a store of value”. “Every day that goes by that bitcoin survives, the trust in it will go up,”.

PTJ on Bitcoin as a tech investment, Oct 2020: “Bitcoin has a lot of the characteristics of being an early investor in a tech company”. And “Bitcoin has this enormous contingence of really, really smart and sophisticated people who believe in it,”. Thanks PTJ. Lol.
Stan Druckenmiller on Bitcoin
Stan Druckenmiller Nov, 2020: I’m a bit of a dinosaur but I have warmed up to the fact that Bitcoin could be an asset class, that has a lot of attraction as a store of value, to both millennials and the new West Coast money (Silicon Valley) and as you know, they got a lot of it.
“If the gold bet works, the Bitcoin bet would probably work better because it’s more illiquid and has a lot more beta to it.”

Novogratz on Bitcoin
Mike Novogratz was also somewhat early on Bitcoin like Chamath. Now CEO of Galaxy Digital, a cryptocurrency investment firm.

Mike Novogratz: we’re at the start of a really big bull market here. Nov, 2020.
“Cryptocurrency was bid the whole night … we’re in a bull market in #bitcoin. The Fed is going to continue to print. Less fiscal, more Fed, good for crypto,” says @novogratz on last night’s trading. “We have crossed the Rubicon in its adoption.” #btc pic.twitter.com/oLJWYFsxDa

— Squawk Box (@SquawkCNBC) November 4, 2020
Here’s Novogratz with a bit of friendly advice for this $BTC bullmarket. “The hardest thing to do in a bull market is to sit.”. “The pain of the gain”. Nice.
The hardest thing to do in a bull market is to sit. My pal Paul Jones calls it the ‘pain of the gain’.This is a $BTC bull market.Your job is to sit on your hands and lock away your phone.The instinct to ring the cash register is high. Don’t. Just HODL right now. Free advice 😉

— Mike Novogratz (@novogratz) November 5, 2020
Jack Dorsey on Bitcoin
“The native currency of the internet” – Jack Dorsey

This fall (2020) square, the company Jack founded, bought $50m bitcoin as one of the first publicly traded companies. It also announced $1.63 billion worth of #Bitcoin sales through Cash App.

More important than Square investing $50mm in #Bitcoin is sharing how we did it (so others can do the same): https://t.co/35ABYHuz4f

— jack (@jack) October 8, 2020
Jack Dorsey on Bitcoin as the native currency of the internet: “I think the internet wants a native currency and I think Bitcoin is probably the best manifestation of that.”
Twitter CEO @jack tells @Reuters #bitcoin is still the most viable internet-native currency pic.twitter.com/w1c3J46E7h

— Reuters (@Reuters) September 10, 2020
Ricardo Salinas Pliego on Bitcoin
Mexicos 3rd richest man, Ricardo Salinas Pliego, runs two TV networks and a bank.

Ricardo has 10% of his liquid portfolio in Bitcoin.
Says Bitcoin protects the citizen from government expropriation.
Started buying Bitcoin at $600 dollars in 2016.

Elon Musk
Elon is a Bitcoin bull. Tesla bought $1.5b worth of bitcoin in January 2021. They’ll accept bitcoin as payment soon and might keep those $btc too.

I’ll keep adding to this post as new Billionaire Bitcoin Bulls surface 🐳🐳🐳 (edit: maybe not, billionaires keep piling in)

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