Silicon Valley venture capitalist Chamath Palihapitiya, an early investor in bitcoin, is still crazy about the cryptocurrency.
"It's the single best hedge against the traditional financial infrastructure," Palihapitiya said in an interview Tuesday with CNBC's
. "Whether you support the fiscal and monetary policy or not, it doesn't matter. This is the schmuck insurance you have under your mattress."Palihapitiya first bought bitcoin years ago at an average price of about $100, he previously told CNBC. The venture capitalist said he and two other friends in Silicon Valley at one point in 2013
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