Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Business https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Billionaire investor Chamath Palihapitiya predicts that Tesla shares will triple and Bitcoin will jump 5 times in a recent interview. Here are the top 15 quotes. | Currency News Financial and business news

Billionaire investor Chamath Palihapitiya predicts that Tesla shares will triple and Bitcoin will jump 5 times in a recent interview. Here are the top 15 quotes. | Currency News Financial and business news

Chamat Palihapitia
Chamat Palihapitia.

  • Chamath Palihapitiya expects Tesla shares to triple and the price of bitcoins to jump fivefold, he told CNBC’s Halftime Report this week.
  • The head of the social capital billionaire and chairman of Virgin Galactic also blew up Facebook, ripped out SPAC and explained why he did not expect the current market boom to end in tears.
  • Here are the top 15 quotes from Palihapitiya̵
    7;s interview.
  • Visit the Business Insider homepage for more stories.

Billionaire investor Chamath Palihapitiya predicts that Tesla shares will double or triple, and bitcoins will jump five times during an interview with CNBC “Halftime Report” this week.

The CEO of Social Capital and chairman of Virgin Galactic also compares the spread of disinformation on Facebook with the sale of cigarettes, defends special vehicles (SPAC) as another way of public distribution of companies and claims that the current market boom is radically different from the bubble preceding the 2008 financial crisis.

Here are the top 15 quotes from the interview, slightly edited and shortened for clarity:

1. “The richest person in the world must be someone who identifies and invents climate change.” – defending Tesla CEO Elon Musk, surpassing Amazon CEO Jeff Bezos in net worth this week.

2. The big cut is in the power supply. There are trillions of dollars in bonds, capital expenditures, value located in the world’s energy infrastructure, which will turn upside down. When this happens in the shape of a pear, Tesla will double and triple again. ” – arguing that Tesla is a clean energy company that will eventually capture a chunk of the value of the fossil fuel industry.

Read more: A growth fund manager who has beaten 96% of his peers in the last 5 years shares 6 stocks that he sees as “dominating their space” over the next 5 to 10 years – including 2 that he says could grow to 100%

3. “I don’t understand why people are so focused on selling things that work. You get paid to stay with people who know what they’re doing, and this is a person who has always been one of the most important entrepreneurs in the world, so why bet against him? It’s the same with Bezos, why bet against him? You stand behind these people who have an incredibly strong character, who know what they are doing, who will not bend to short-term profits and who will just drive the train in 10 or 20 years and will make the world a better place. “- explains why he has no plans to sell shares in Tesla.

4. “These guys are dancing, they’re in rhythm, they’re moving. Let them do their job, stay behind them. Don’t sell a share, just let them create value.”

5. “It’s rocket fuel for assets. Whether it’s housing markets, or it’s capital purchases like cars or vacations, or stocks in this case, if we’re still under blockade, these things will just go to the moon for a while. time and so you just have to be long. Anyone trying to understand why you don’t have to be long, I think I’ll be sorry for at least the next 18 to 24 months. “- arguing that shrinking consumer credit card debt, rising savings and a record amount of money in the money markets will boost the markets.

Read more: BANK OF AMERICA: Buy these 8 US stocks ready to jump in the first quarter of 2021 – and avoid these 2 at all costs

6. “Building products, cars, energy systems, batteries, retail infrastructure, robots, transforming financial services to be fair to all – this is not derivatives trading and gaming. It was not real value , these people were just mixing shells around is different because people do tangible things that you can touch and feel. “- explains why the current market boom will not lead to a repeat of the 2008 financial crisis.

7. “There is a huge difference in inequality in the United States. There are trillions of dollars located within 401 (k) s, they need to be distributed in things that can grow quickly so that ordinary Americans can generate savings for their future retirement, for their homes, for their ability to pay for college. You won’t do that if you own American Express. These companies are in an inactive, hereditary business, this game is over. “

8. “I don’t think it’s a peak SPAC. You have to have a simple way out of the public markets, SPAC is that. things are done. “

Read more: Bank of America says warning signs that stocks are flowing into the bubble area are rising – and exact points 6, which could signal a bear market, are starting

9. “Look at the amount of money we waste as a state on all sorts of random nonsense. We let politicians rush into the Capitol, hang around for 2, 4, 6 years, and then just take it from the coffers.”

10. “Can you play the video in 2012 and 2013, when it was $ 200 and everyone laughed at me on CNBC every time I talk about bitcoins? Where does it go? It will probably reach $ 100,000, then $ 150,000 , then $ 200,000. “- Palihapitiya did not specify a time frame, saying bitcoin could take five or 10 years to reach those prices.

11. “We really need to have some kind of insurance that we can keep under our pillow, which gives us some access to an uncorrelated hedge. Eventually it will move on to something much more important, but right now the fabric of society is worn out and until we figure out how to do it better, it’s time to just have some great insurance on the side. “- suggesting that events such as the siege of the Capitol have undermined faith in leaders and institutions, fueling the demand for bitcoins.

12. “Enhances echo cameras deliberately and by design. If you are someone who for some reason feels disenfranchised, you can find a corner of the Internet where you can reinforce your worst fears and unfortunately 90% of this activity is now happens on Facebook. “

Read more: The $ 500 million crypto asset manager’s CEO breaks down 5 ways to evaluate bitcoin and decide whether to own it after the digital asset breaks $ 40,000 for the first time

13. “We optimize for short-term profitability in the name of our democracy. What we left in rags made sense that there is some moral or ethical imperative to govern decision-making in this company. And that saddens me for the people, who work there. “- sharing his feelings as a former Facebook employee about the role of the social network in spreading misinformation that led to protesters storming the capital.

14. “There are people in this company who build these things that intensify lobotomization, the intellectual twisting of people, so that they can’t learn what’s really going on, so that their worst fears and their worst worries are You need to better understand that this diet is unhealthy. Now that you are selling cancer-causing cigarettes, there has to be labels, they have to be placed behind the counter, they have to be out of the reach of children. ” – arguing that Facebook should be treated legally as a publisher and face stricter regulations.

15. “We just have to have a real ‘coming to Jesus’ in this country for what’s really important.”

Read more: The $ 138 billion AQR megafund shares a step-by-step guide for investors looking to reduce the carbon footprint of their portfolios – and explains why the move could boost long-term returns

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