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Billionaire investor Chamath Palihapitiya says bitcoin will surge to $200,000 as more investors realize they need an ‘uncorrelated hedge’ against untrustworthy national leaders

Billionaire investor Chamath Palihapitiya told CNBC on Thursday bitcoin could soar to $200,000. The Social Capital CEO said he doesn’t know exactly when bitcoin will reach this price, but “it’s going there,” and could happen in five or ten years.

His comments come as bitcoin roars past new records. Bitcoinhit a new all-time high of more than $41,000 on Friday morning. The cryptocurrency’s price has gained over $10,000 in the last week.

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