Chamath Palihapitiya, the early Bitcoin investor and industry proponent, as well as the CEO of venture capital firm Social Capital, has signaled a potential run for the position of California governor.
It has been reported that Palihapitiya appeared to announce his intentions in a Tweet on January 26. The post linked to his new website with a number of promises for the US state including massive tax cuts, an increase for teacher’s salaries, the end of student loans, and a handout for new births.
However, he appears to be gearing up for the 2022 Gubernatorial race or potentially for a special election, though no specifics were provided beyond his intentions to get involved politically.
The report said that Palihapitiya has also joined efforts to force a recall vote for the current California governor Gavin Newsom which would lead to a special election later in 2021. A growing number of Californians have been displeased with Newsom’s performance in the position, especially when it comes to inconsistent shutdowns and a slow-moving COVID-19 vaccine rollout.
“Let’s make California the global centre of all tech & climate jobs by realigning our incentives rather than pushing them away.”
Likewise, in an interview, he said that he sees Bitcoin as insurance against economic uncertainty and that its price could soar to $200,000 over the next five to ten years.
Thus, Palihapitiya bought Bitcoin back in 2013 when the price was around $80 per coin, and he claims that at one point he owned around 5% of the entire Bitcoin supply.