Billionaire entrepreneur and founder of venture capital fund Social Capital, Chamath Palihapitiya, says Bitcoin investors should consider changing strategy to make the leading cryptocurrency more mainstream.
In a new one interview With Real Vision, Palihapitiya BTC calls a protection against the traditional financial infrastructure.
In order for Bitcoin to achieve mass adoption, he urges crypto believers to keep it simple and make the digital asset mainstream in sensible and realistic terms.
“We have to dial it down. If you want Bitcoin to reach the mass market, the easiest way to describe it is in simple pragmatic terms that don’t require eager faith.
Choose pragmatic rhetoric – [that] This is what makes your mom and grandmother have bitcoin in their wallets. ”
Palihapitiya says the current financial system is entering a new phase and the banking industry will not suffer a “fatalistic death blow”.
“We are now seeing a whole class of fintech companies emerge slowly undermining the value proposition of entrenched financial institutions. It will be another 10 or 20 years before we see this happen on a sufficient scale. “
Palihapitiya believes in the digitization of the financial industry and expects a wide variety of tokens that cover all aspects of the industry.
“[Tokenization is] the assignment of ownership to units that companies want to create in order to then pass them on to their shareholders or stakeholders …
I was able to see a company … with a token that you can redeem for a free vaccination. “