Billionaire Chamath Palihapitiya Expect Tesla Stock to Triple, Bitcoin to Rally Five-Fold

Tesla (NASDAQ: TSLA) stock and Bitcoin are among the two hottest plays of 2021 as market participants have aggressively been expanding bullish bets.

The billionaire Chamath Palihapitiya, boss of the Social Capital and chairman of Virgin Galactic, predicted bold price targets for two of the best performing plays. He says Tesla stock price is likely to triple in value while Bitcoin price will increase five fold.

Chamath Palihapitiya – @chamath (Twitter) source: Bloomberg TV

When BTC hits $100k, I’m going to buy @GoldmanSachs and rename it Chamathman Sachs.

— Chamath Palihapitiya (@chamath) January 9, 2021

Bitcoin price already rallied more than 300% in the last year and the digital asset extended the surge into the first week of 2021. The price of Bitcoin hit an all-time high of $40K last week, and the digital coin is currently trading around $34K in Monday trading.

Several other big names agreed to what billionaire Chamath Palihapitiya says. For instance, legendary investor Bill Miller expects Bitcoin to rally 100% in 2021, thanks to its usage as a hedge against inflation.

“It’s more a risk management strategy than anything else to have a little bit of money in Bitcoin,”

the founder and chief investment officer of Miller Value Partners said.

“One of the things that’s interesting about Bitcoin is that it gets less risky the higher it goes, and that’s the opposite of what happens with most stocks,”

he added.

The legendary investor says the prospects for Bitcoin’s upside are higher than the downside, suggesting investors don’t miss the gains just only waiting for a better entry point.

Tesla Stock Could Triple in 2021

TSLA stock price – source: finviz.com

Tesla stock price rallied close to 750% in 2020 and the upside momentum looks unstoppable as shares of the largest electric vehicle maker surged another 24% since the beginning of 2021.

Billionaire Chamath Palihapitiya’s price prediction looks realistic because the demand for electric vehicles is growing at a significant pace from all over the world in the wake of a move towards clean energy.