Chamath Palihapitiya Predicts Bitcoin Surge to $500,000

Venture capitalist Chamath Palihapitiya discussed a potential path for the widespread adoption of Bitcoin on the All-In podcast, suggesting the cryptocurrency’s price could rise to $500,000.

According to the billionaire, the “powerful concept” of adopting digital gold was explained to him by Xapo custodian founder Wences Casares.

The entrepreneur is confident that more countries will take notice of Bitcoin while retaining their national currencies. Essentially, they will become bimonetary, with the United States potentially among the first to follow this path, Casares suggested.

One asset would be used for transactions involving everyday goods and services, while the other—cryptocurrency—would serve as a store of value.

Palihapitiya also noted that Casares encouraged him to analyze Bitcoin’s growth following halvings. Approximately every four years, the reward for a mined block in the network is halved. On April 20, 2024, it became 3.125 BTC instead of the previous 6.25 BTC.

The investor pointed out that the cryptocurrency achieved its highest performance 12-18 months after the event.

According to Palihapitiya’s forecast, if the growth trajectory after the third halving repeats, Bitcoin’s price could reach $500,000 by October 2025. If the average figures of the last two cycles are considered, the implied target for quotes is $1.14 million.

Earlier, in February, technical analyst and Factor LLC head Peter Brandt raised his forecast for digital gold to $200,000 by August/September 2025. In early June, he reverted to more cautious estimates of $130,000–150,000.