Bitcoin billionaire CEO of Social Capital to run for California governor.

Early Bitcoin investor and the CEO of venture capital firm Social Capital, Chamath Palihapitiya, has signaled a potential run for the position of California governor.

The CEO of venture capital firm Social Capital, Chamath Palihapitiya, appeared to announce his intentions to run for California governor’s position in a Tweet on January 26. The post linked to his new website with a number of promises for the U.S. state, including massive tax cuts, an increase in teacher salaries, the end of student loans, and a handout for new births. The businessman has also joined efforts to force a recall vote for the current California governor Gavin Newsom. 

 

 

Palihapitiya appears to be gearing up for the 2022 Gubernatorial race. 

Social Capital CEO 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. According to the Business Insider report, the billionaire businessman 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 center of all tech & climate jobs.”

The former Facebook executive Palihapitiya was an early investor in Bitcoin, and he says he wants to maintain California’s status as a leading technology hub. He stated, “Let’s make California the global center of all tech & climate jobs by realigning our incentives rather than pushing them away.” Earlier, 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. According to an April 2020 Forbes article, Palihapitiya bought Bitcoin back in 2013 when the price was around $80 per coin, and he claims that he owned around 5% of the entire Bitcoin supply at one point.

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Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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