3 Reasons Why Chamath Loves Bitcoin

Chamath Palihapitiya, the outspoken CEO of Silicon Valley fund Social Capital, recently disclosed that his investment firm has owned bitcoin since 2013. While there are thousands of different cryptocurrencies out there, Chamath has been the most vocal about his support of bitcoin in particular.

Bitcoin, which came onto the scene in 2009, was the first decentralized peer-to-peer payment network built with no central authority. Think of it as cash for the internet, where no government has any control over supply and there are no middlemen between transactions.

It's no surprise that something like this has been targeted by law enforcement, scrutinized by business leaders, and received growing interest from investors and the general public alike. Palihapitiya, one of the biggest proponents of this new digital currency, doesn't shy away from voicing his opinions on the subject.

Source Fool.com