Chamath Palihapitiya Has $5 Million In Bitcoins

Posted Oct 29, 2013

Chamath Palihapitiya is a former Facebook executive that is known as being the founder of The Social+Capital Partnership.  Palihapitiya is also known for being a major supporter of open source P2P currency Bitcoin.  He owns $5 million in Bitcoins and wants to eventually own around $10 and $15 million. Palihapitiya knows that there is a lot of risk involved with owning Bitcoins, but he is willing to take that risk.  He said that he is bullish on the currency because it is electronic, peer to peer, and mostly unregulated.  He also sees it as removing any kind of friction in the same way that TCP/IP did with the Internet.
[Source: TechCrunch]