Social Capital founder and CEO Chamath Palihapitiya told CNBC on Tuesday he’s “massively long” Tesla convertible bonds. “Why the convertible bonds? Again, it’s the safest and surest way to bet on Elon Musk, who I just fundamentally think is the most important entrepreneur of our generation,” said Palihapitiya, whose firm has $2.6 billion in assets […]
Read moreLitecoin, the fourth-largest cryptocurrency in the world by value, has hit a record high and rallied nearly 5,800 percent this year, beating rival bitcoin’s rise. The price of litecoin reached an all-time high of $255.42 on Tuesday, according to industry website Coinmarketcap.com, which takes the volume weighted average of all prices reported on different exchanges […]
Read moreBitcoin futures fell in low volume Tuesday in their second day of trading on the Cboe Futures Exchange. Trading volume in the most popular contract, which expires in January, was less than half what it was the prior day at 471 as of 8:24 a.m., ET. Volume had already topped 800 about two hours after […]
Read moreAmazon is a “natural product monopoly” that will continue to grow, according to Social Capital CEO Chamath Palihapitiya. Palihapitiya made clear, however, the e-commerce giant is “by no means a market monopoly,” because there are other rivals. On CNBC’s “Squawk Box” Tuesday, he explained what he means by “product monopoly.” “You build something and when […]
Read moreCoffee chain Starbucks has said it has taken action to stop customer laptops being used to generate the cryptocurrency Monero. On December 2, a Twitter user called Noah Dinkin posted a screenshot that showed that the public Wi-Fi available in a Starbucks store in Buenos Aires, Argentina, had been hacked and edited with unusual code. […]
Read moreChamath Palihapitiya, who first bought bitcoin years ago at an average price of about $100, still believes the cryptocurrency has much furhter to go despite the monster rally this year. “I think this thing is a $100,000 a coin probably in the next three to four years. And I think it is in the next […]
Read moreFor people looking to get in on cryptocurrencies without having to bet on a single one, a new money management firm is trying to make crypto-investing as easy as buying the S&P 500. Bitwise Asset Management has just started accepting investors into Hold 10, the world’s first crypto-index fund, which lets people put money in […]
Read moreEx-Facebook executive Chamath Palihapitiya told CNBC on Tuesday that social media is creating a society that confuses “popularity” with “truth.” “The tools that we have created today are starting to erode the social fabric of how society works,” he said in a “Squawk Box” interview, in response to comments he made that went viral. At […]
Read moreLast month, President Trump stood in the Oval Office under a portrait of Andrew Jackson and announced that Broadcom, a semiconductor company based in Singapore, would be moving its headquarters back to the United States. “I want to thank you very much for choosing us,” Mr. Trump said, boasting that Broadcom already had 7,500 workers […]
Read moreThe bitcoin bubble could be “destructive” in the long term if more people keep pumping money into the cryptocurrency, UBS analyst Paul Donovan told CNBC on Tuesday. UBS has previously called bitcoin a “speculative bubble.” And Donovan, who is the wealth management global chief economist at the investment bank, has compared the cryptocurrency’s rise to […]
Read more