RATE Group | Virgin Galactic Chairman Who Predicted $1 Mln Bitcoin (BTC) Says Oil Going to Zero
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Virgin Galactic Chairman Who Predicted $1 Mln Bitcoin (BTC) Says Oil Going to Zero

21 Apr Virgin Galactic Chairman Who Predicted $1 Mln Bitcoin (BTC) Says Oil Going to Zero

Posted at 10:12h in Bitcoin News by

Crude oil has recently hit its 21-year low, with U.S. benchmark West Texas Intermediate (WTI) tanking to an intraday low of $14.62. 


However, Virgin Galactic chairman Chamath Palihapitiya believes that this crisis is going to send the black gold to $0.   




Oil becomes unwanted


Despite Russia and Saudi Arabia finally burying the hatchet by agreeing to nearly 10 percent output cuts, oil prices have so far failed to stabilize.


The COVID-19 pandemic, which has locked billions of people in their houses, has led to a global glut of crude. To put this into perspective, about 60 supertankers are currently filled to the brim with the unwanted commodity. 


Oil traders hope that they will be back in business…

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