Some individuals have made a killing on investing early in Bitcoin with Chamath Palihapitiya, one of the earliest investors and CEO of venture capital firm Social Capital, now committing to the gubernatorial race.
In a tweet on January 26, Palihapitiya posted his program for the state which included many interesting talking points which, if put in practice, could definitely win him the support of locals.
Massive tax cuts, higher salaries for teachers and an end to student loans are just some of the things that the hopeful candidate now promises. Yet, as 2022 is still far off, Palihapitiya's program and its feasibility will come under scrutiny.
As a known Bitcoin and blockchain proponent, he will be questioned on many fronts. He is not wasting time though, and according to reports, Palihapitiya is already looking to initiate a recall vote for the state's current governor, Gavin Newsom. The vote is unlikely to take place in 2021.
Palihapitiya is a known supporter of cryptocurrencies. Earlier this month he said that Bitcoin is a hedgefund against economic uncertainty and said investing in crypto is a smart decision. Palihapitiya is also a substantial Bitcoin investor – he started in 2013 and at one point reportedly owned 5% of the total Bitcoin supply.