Billionaire investor Chamath Palihapitiya said it would be reckless for investors to ignore what the two richest people in the world are doing with their own portfolios. The popular name also gave research advice to those who will invest in cryptocurrencies.
In a new episode of The All-In Podcast, the CEO of venture capital firm Social Capital thinks people should be aware that big names like Elon Musk and Jeff Bezos are selling their shares.
Palihapitiya said:
“Our stock market is at all-time highs, our cryptocurrency is at all-time highs, our art markets are at… all-time highs. Inflation is at its highest in 30 years. We have 10-year break-even at 25-year highs. We have the odd one-point trillions of dollars we approved in Congress last week, and we’re still working towards another $1.8 trillion stimulus. The two most important founders of our generation, the two truly smartest earners, Elon Musk and Jeff Bezos, have sold more than $11 billion in total stock this year alone…
If the smartest people in the world are now selling their core assets that they said they’d never sell to you, and you don’t reconsider your position on things, you’re either way smarter than they are, or you’re really, really reckless. ”
Palihapitiya stated that on crypto money, investors should research functionality and usage scenarios before investing their money in projects. Popular CEO said:
“Bitcoin is gold, Ethereum seems to tend to be silver, and Solana may be the first of any real developer ecosystems to build on top of, but there will be others that follow. ”
Palihapitiya also referred to Helium (HNT) and Render Token (RNDR):
“Helium is an interesting project trying to build a fully decentralized 5G infrastructure. Render… a completely decentralized graphics processing fabric, essentially trying to render GPUs. In both of these, you can quantify what value people get. ”
