Early bitcoin investor Palihapitiya declares 'nobody can stop it'

Speculators who took after Social Capital's Chamath Palihapitiya into the beginning periods of two ventures he supported would have made a dreadful part of cash.

Palihapitiya was ahead of schedule in both Facebook, the universal informal community, and bitcoin, the problematic crypotcurrency that has forcefully isolated financial specialists who keep on argueing over its authenticity.

Indeed, even with the significant increases both have made, Palihapitiya stays hot on tech stocks by and large, and bitcoin specifically. The advanced cash, regardless of some unstable circumstances, has taken off almost 300 percent this year.

That has come despite the fact that JPMorgan Chase CEO Jamie Dimon has called it a misrepresentation that is bound to come up short.

"It's not possible for anyone to stop it since no one can control it," Palihapitiya said at the Delivering Alpha meeting on Sept. 12. "The possibility that the legislature can put controls on this is in reality entirely credible."

Instead of open deliberation its status as a cash or its utilization for terrible purposes, he said there ought to be a more extensive exchange about how to put it to better utilize.

"To the extent I'm concerned, the genie is out of the jug," he said. "Presently the genuine inquiry is by what means would we be able to beneficially utilize it to settle some of society's issues around the monetary administrations framework."