tl;dr
Chamath Palihapitiya, billionaire investor and former Facebook executive, confidently predicts Bitcoin will reach $1.14 million this cycle. In 2013, he called Bitcoin a revolutionary storehouse of value and encouraged investing 1% of net worth in it when it was priced at $128.80. He views Bitcoin as...
Chamath Palihapitiya, the billionaire investor and former Facebook executive, is very confident that Bitcoin will continue to gain value. Revisiting a bold prediction he made back in 2013, Chamath recently shared an old video where he described Bitcoin as a revolutionary storehouse for value—an idea that few took seriously at the time. As Bitcoin pushes toward all-time highs today, his prediction that Bitcoin will reach $1.14 million this cycle is gaining attention. He expresses certainty, not mere speculation.
Chamath originally envisioned Bitcoin as "gold 2.0," a stronger, smarter version of precious metal. He saw Bitcoin not just as an investment, but as a shield against failing monetary systems. Countries suffering intense economic stress—such as Venezuela, Iran, Argentina, and Russia—would eventually turn to Bitcoin for protection when local currencies collapse and governments lose control. To him, Bitcoin fits that need perfectly.
In 2013, Chamath encouraged people to invest 1% of their net worth in Bitcoin through an op-ed published on Bloomberg, when Bitcoin traded at only $128.80. Most ignored his advice at the time. Yet, someone investing $10,000 then would now hold over $9 million—reflecting a jaw-dropping return of more than 91,500%.
Chamath views Bitcoin’s rise as rooted in the collapse of public trust after the 2008 financial crisis. Banks and governments lost their perceived stability, pushing people to seek alternative safeguards. Bitcoin emerged as a viable backup plan. Despite soaring prices, critics like Warren Buffett dismissed Bitcoin, branding it “rat poison squared.” Chamath disagreed firmly, even calling himself Buffett’s disciple while openly opposing his views on Bitcoin. This marked a turning point, as Bitcoin became embraced by respected Silicon Valley figures, broadening its appeal beyond developers and digital rebels.
Today, as Bitcoin climbs again, Chamath’s $1.14 million forecast appears less far-fetched. He believes this current surge is more than a simple bull run—it represents Bitcoin evolving into a digital fortress amid global economic uncertainty. To him, Bitcoin is not just about price but symbolizes rebellion, mistrust in traditional systems, and a quiet revolution encoded in technology. Chamath is no longer hoping for Bitcoin’s success; he is confidently betting on it.