Chamath Palihapitiya flips on Bitcoin and now forecasts total collapse

Investor Chamath Palihapitiya has reversed his long-held bullish view and now predicts Bitcoin will eventually fall to zero. He points to advancing AI systems that could eventually break the network’s cryptography or drain dormant wallets linked to Satoshi Nakamoto.

Palihapitiya argues that Bitcoin’s transparent ledger makes it unsuitable for central banks seeking privacy, limiting future demand and capping its price. He also doubts the community could coordinate a timely shift to quantum-resistant cryptography.

The same investor once bought Bitcoin between $80 and $100 in 2012–2013 and repeatedly forecast prices of $100,000 then $1 million. He has since sold most of his holdings, including using 2,739 BTC in 2014 to buy land, and now holds shares in Digital Currency Group instead.

Based on information from cryptonews.net