Chamath Palihapitiya, the chief executive officer of the Social Capital, which is expected in the price of crude oil is set to zero, it will fall.
The price of crude oil has gained recently, its lowest level in 21 years. The lowest point for the Us benchmark, West Texas Intermediate (WTI), was 14,62 dollars.
Palihapitiya is expected that the bottom of the well has not yet been found, and he believes that the current crisis is the “black gold” for a solution brings with it.
See you near $0…
— Chamath Palihapitiya (@chamath) on April 20, 2020
Despite the fact that Russia and Saudi Arabia, are finally burying the hatchet to have been buried by agreeing to be a drop in production by almost 10 per cent, the oil price has not stabilized. Still, it seems to have a price of 0 dollars is still very far away, but it may be difficult to obtain.
A negative rate is possible
Western Canadian Select (WCS) fell recently to a negative 0.15 in the dollar, given that the refineries have to pay for the storage of oil, even (or especially) when there isn’t any question.
WELCOME TO A WORLD OF NEGATIVE #OIL PRICES…
Western Canadian Select is one of North America’s largest heavy crude oil streams. It is also Alberta’s, Canada’s benchmark…
Unbelievable destruction!! pic.twitter.com/ZpjqvFO1EM
— Gold Is The Telegraph (@GoldTelegraph_ April 20, 2020
The trade war between OPEC, Russia, and the order of the coronacrisis, allowing millions of people to stay at home, have led to a global glut of crude oil. At this moment, there are about 60 supertankers filled to the brim with the unwanted product.
Oil traders hope that demand for oil is increasing as countries, have their lockdowns ease.
An all-or-nothing bitcoin
If the bitcoin to arrive, according to Palihapitiya’s no middle ground. That, he said, during a recent episode of the podcast, Anthony. Pompliano. He predicted that a single bitcoin go to 0, but to $ 1 million may be going to this month.
It is not just me, a lot of investors have high hopes for bitcoin. What is the price of bitcoin reacts to the current economic crisis has been significant. This indicates whether or not investors have the utmost confidence in bitcoin.
Of late, Boeing included
If you have the name of the Palihapitiya of something that is true. He was on last week as a guest on CNBC, and had clearly not feeling sorry for other’s experience. He had not a chip of the argument as to why the united states government, large corporations, such as Boeing, to be of help. CNBC has the video already been removed, but fortunately it is on Twitter.
Alex Danco (@Alex_Danco) On April 10, 2020