Early Bitcoin Tech Investor Turns Bearish, Warns BTC Could Be Hacked To Zero

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Tech investor Chamath Palihapitiya, once a loud Bitcoin bull, now says the asset is capped and will eventually be hacked and fall to zero. TL;DR He cites a limited pool of buyers, security risks from leaked ownership data, and AI-driven attacks on cryptography. He says he no longer holds crypto directly, having swapped his bitcoin for equity in Digital Currency Group. BTC trades near $81,500, roughly 26% below its level a year ago. A Prominent Bull Changes Sides Few voices in tech investing carry the reach of Palihapitiya, the Social Capital founder who co-hosts the All-In Podcast with David Sacks, David Friedberg and Jason Calacanis. Speaking on the Moonshots podcast with Peter Diamandis, he described bitcoin as a dead end: limited in how far it can climb, and ultimately vulnerable to a hack that sends it to nothing. The reversal is stark. In December 2017 he forecast $100,000 per coin by around 2020, a target bitcoin needed four extra years to hit. He later floated $1 million by 2040, pitching the asset as protection against currency debasement and geopolitical turmoil. He has also...