Chamath Palipithiya's Early Bitcoin Selling Mistake: A Huge Regret
The current Bitcoin boom is taking the world by storm. The fact that Bitcoin recently crossed the $90,000 mark says a lot about its bullish trend and the interest the token has been receiving lately.
Chamath Palipithiya, a star investor and billionaire, recently shared his insights on Bitcoin’s current trajectory, lamenting how he lost billions of dollars by prematurely selling his BTC holdings.
Chamath Palipithiya's Early Bitcoin Selling Mistake: A Huge Regret
Billionaire investor and renowned venture capitalist, Chamath Palipithiya is a leading figure in the financial world. A short video of Palihapitiya is going viral on X, in which the investor admits to losing billions of dollars by selling all of his Bitcoin holdings before the token could reach a stable price.
Palihapitiya spoke about his multi-billion dollar mistake on the recent All In One podcast on X, adding that uncertainty from his peers and peers about the token forced him to sell a large amount of BTC. Palihapitiya later admitted that the sale was profitable at the time, but with Bitcoin recently hitting $90,000, the sale would have generated a significant profit today compared to then.
“Honestly, you know what I really think about the Bitcoin that I sold, you know? I had some bitcoin in my fund when I was managing external capital. You know, it was a big mistake. I don’t know a $3 to $4 billion mistake in the current development because my partners at the time capitulated and I wanted to be a good team leader. And we distributed it, and it was profitable, but obviously I should have sold it. It would have made more money.”
Will the Token Value on the Card Increase to $100,000 This Year?
Bitcoin is currently priced at $91,000 and is slowly approaching the coveted $100,000 mark.
According to CoinCodex , Bitcoin could very well surge nearly 19% to hit a new price of $109,000 by the end of this month.
“According to our current BTC price prediction, Bitcoin price is predicted to increase by 19.73% and reach $109,146 by December 19, 2024. According to our technical indicators, the current sentiment is bullish while the Fear & Greed Index is showing 83 (extreme greed). Bitcoin recorded 17/30 (57%) green days with a price movement of 11.63% in the last 30 days. Based on the Bitcoin forecast, now is a good time to buy Bitcoin.”