Bitcoin Billionaire Intends to Run for California Governor

Chamath Palihapitiya , an early Bitcoin investor, recently revealed his intention to run for governor of California via Twitter. The billionaire businessman also joined the vote to impeach the current governor of California, Gavin Newsom, which will lead to a special election later in 2021.
Chamath Palihapitiya, an early bitcoin investor and industry supporter, has said he may run for governor of California.
Chamath Palihapitiya, CEO of venture capital firm Social Capital, appeared to publicly announce his intention to run in a tweet on January 26. The post linked to his new website, which contained a number of promises, including massive tax cuts, pay raises for teachers, ending student loans, and giving money to newborns.
Palihapitiya appears to be preparing for a 2022 gubernatorial run or possible a special election, though few specific details have been revealed other than that he intends to get involved in politics.
The billionaire businessman has also reportedly joined the vote to impeach California's current governor, Gavin Newsom, which would lead to a special election later in 2021.
A growing number of Californians are unhappy with Newsom's performance in the position, particularly when it comes to inconsistent lockdown policies and a slow COVID-19 vaccine rollout.
“It’s time. #RemoveGavinNewsom
— Chamath Palihapitiya (@chamath) January 26, 2021”
Palihapitiya, a former Facebook executive who was an early investor in Bitcoin (he bought $1 million), said he wants to maintain the state’s status as a leading technology hub.
“Let’s make California the global hub for all tech and climate jobs by realigning our incentives, not pushing them apart.”
On January 7, he said in an interview that he believes Bitcoin is insurance against economic uncertainty and that its price could soar to $200,000 in the next five to ten years.
According to an April 2020 article in Forbes, Palihapitiya bought Bitcoin as early as 2013, when the price of Bitcoin was about $80 per coin, and he said that at one point he owned about 5% of the entire Bitcoin supply.
Since President Biden took office on January 20, there have been many moves in the U.S. political circles to support encryption technology, including nominating Michael Barr, a former member of the Ripple Advisory Board, as the next head of the Office of the Comptroller of the Currency. In addition, the Biden administration has also selected Gary Gensler, who has extensive knowledge of encryption, to lead the Securities and Exchange Commission. (Cointelegraph)