According to the billionaire CEO of Social Capital and Virgin Galactic Chairman..

BitStil (reviewed here) just came with another update from financial world and cryptocurrencies. In fact, this update has nothing to do with the project itself, but such updates are still important for all HODLers / Hyip investors from a fundamental point of view. I believe that there are almost no Hyip investors who would NOT be interested in cryptocurrency news – this is, firstly. Secondly, such news is another reason to check the program, visit it and see its activity. The more activity, the more credibility on the part of the EN community and all investors around it.

Below is a BitStil program update for members:

People need bitcoin as insurance against bad legislation.

Chamath Palihapitiya, the billionaire CEO of Social Capital and Virgin Galactic Chairman, has called Bitcoin a type of disaster insurance against governments making bad financial decisions. 

In an interview with Unchained Podcast on June 23, Palihapitiya said hard-working people need something like Bitcoin as insurance, as the cryptocurrency is “really fundamentally uncorrelated” to the consequences of legislators behaving badly.
 
However, the CEO pointed out that for the Bitcoin price to skyrocket at this point, things would have to go terribly wrong in the financial system, with disastrous impacts on your friends and family.  
 
Palihapitiya himself invested in 2010, by buying one million Bitcoin for $80, whose value reached the billions when the token had its all-time high in December 2017. 
 
No wonder the billionaire claims that Bitcoin (BTC), unlike “second- and third-tier” cryptocurrencies like Ethereum (ETH), is one of the few ways to get a “massive asymmetric payoff” from such a small investment. 
 
“You want to be sure that a small amount of insurance can basically make you whole,” Palihapitiya said, citing a $1,000 payoff for a $1 investment as a good example. “That’s why I just think that, you know, you should take 1% of your portfolio, put it in Bitcoin.”
 
“At the end of the day, any other asset class — equities, debt, real estate, commodities — they’re all tightly, tightly coupled to a legislative framework and an interconnectedness in the financial markets that brings together many of the governments that are sort of behaving this way.”
 
The billionaire has also speculated the value of Bitcoin in the future could reach millions of dollars, or drop to zero.
 
Join BitStil and bring your life quality to a whole new level!

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