This Billionaire Tech Investor Regrets Not Buying Bitcoin Everyday, Believes The Asset Can More Than Double In Value
Billionaire technology investor and Coatue Management CEO Philippe Laffont regrets not buying Bitcoin.
Bitcoin is in Laffont's 'Fantastic 40.'
It is not the first time Laffont has expressed pro-Bitcoin sentiments.
Despite their storied successes, famed investors don't always get it right.
'I wake up every day at three in the morning and I'm like, why am I such an idiot?' Billionaire technology investor and Coatue Management CEO Philippe Laffont told CNBC on Wednesday, expressing regret at not buying Bitcoin. 'What have I been waiting for not being involved in it [Bitcoin]?'
Like many sophisticated investors, Bitcoin's volatility turned Laffont off.
'I always thought bitcoin is amazing, but it's double or triple the volatility of the Nasdaq,' he told CNBC. 'Nasdaq is already pretty volatile. Why do I need to deal with this added volatility?'
Don't Miss:
— no wallets, just price speculation and free paper trading to practice different strategies.
Grow your IRA or 401(k) with Crypto – .
But amid Bitcoin's staying power and continued surge, Laffont now believes he was mistaken. He added that the volatility that initially dissuaded him from investing in the asset now appears to be coming down, citing the asset's reaction to President Donald Trump's April 2 'Liberation Day' tariffs. While the Nasdaq fell over 16% in the days following the news, Bitcoin fell only about 12%.
Laffont has added Bitcoin to his 'Fantastic 40,' a list of firms and assets he believes will lead the market by 2030. He predicts the asset's market capitalization could hit $5 trillion by then. The target suggests a 138% upside potential for the asset, which currently boasts a market capitalization of $2.1 trillion.
Trending: New to crypto? on Coinbase.
Laffont reasons that Bitcoin still has room to grow, citing its size relative to the world's market cap.
'Net worth of the world is, I think, $450 trillion to $500 trillion, equities are, let's say, $120 trillion, gold above and under the ground is $20 trillion. And then Bitcoin is $2 trillion. And I was like, okay, well, $2 trillion – let's say it represents half a percent of the net worth of the world. Could it go to one of two?' he told CNBC.
Laffont also said Bitcoin could benefit from de-dollarization. The theory is that U.S. exceptionalism may be ending, paving the way for a future with multiple reserve currencies. Many analysts see Bitcoin benefiting from such a scenario.
Despite this optimistic outlook on Bitcoin, Laffont is still yet to commit.
'Do I own it now? Do I own it tomorrow or in a few days? But every day, I do think, 'Why do I not own it?'' Laffont said. 'Sometimes you have to change your mind and you have to say, well, I made a mistake.'Laffont had previously expressed these pro-Bitcoin sentiments on June 12. At the time, he urged proponents to lean towards moderation.
'For those of you that think Bitcoin is going to be important, my recommendation is never make it such a big portion of your portfolio that it becomes the driving factor of the portfolio,' he said at Coinbase's (NASDAQ:COIN) State of Crypto Summit in New York. 'You're going to make way more money by having a smaller position that you can keep for 10 years than the big one that worries you all the time.'
Read Next: Named a TIME Best Invention and Backed by 5,000+ Users, Kara's Air-to-Water Pod Cuts Plastic and Costs —
Image: Shutterstock
This article This Billionaire Tech Investor Regrets Not Buying Bitcoin Everyday, Believes The Asset Can More Than Double In Value originally appeared on Benzinga.com
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
12 minutes ago
- Yahoo
4 reasons Longhorns may have dodged a bullet by losing 5-star Felix Ojo to Texas Tech
On the afternoon of Independence Day, five-star offensive tackle Felix Ojo committed to Texas Tech. Thought to be a heavy Longhorns lean, the Mansfield, TX native reportedly accepted a late deal from the Red Raiders for $5.1 million dollars over three years. The 6-foot-6, 275-pound prospect didn't even list Tech as a final four and told Rivals last week it was between Ohio State and Texas. In the end, Ojo took the big money from Texas Tech mega-booster and Matador Club founder Chad Campbell. Advertisement Could this end up being a blessing for Texas? Ojo was reportedly the Longhorns No. 1 target during this recruiting cycle. Texas spent a lot of time, effort and capital to get him to Austin. No one blames a 17 or 18 year old for taking the biggest offer. But it is how Ojo handled himself over the past 10 days that should put up red flags. Cash over player development While taking the biggest offer is understandable, it is shortsighted. No one would say the player development at Texas Tech is as good as the Longhorns have been under Steve Sarkisian. Texas has the most NFL Draft picks over the past two years and have a great record of getting offensive lineman drafted high. Kelvin Banks Jr. went No. 9 to the Saints in the most recent draft. Ojo simply won't get the quality of coaching at Tech as he would at UT. Most agents want the biggest deal possible. It seems logical. But sometimes that goal is at odds with the player's future. The agent wants his percentage of the money to be as much and as soon as possible. Ojo's representative Derrick Shelby probably won't be his agent when it comes time to negotiate his first NFL contract. But the cost for the client, in this case Ojo, is player development. Advertisement Disingenuous in the final days Bobby Burton has covered the Longhorns for decades. The media legend helped found Rivals and 247Sports. Burton says Ojo purposely strung the coaching staffs of Texas and Ohio State along in the waning stages of his recruitment, even though his camp had made the decision to head to Lubbock. Playing coy in the press and on social media is one thing. Being less than truthful with other coaching staffs for spot is another level. Disrespectful commitment ceremony Many recruits play the old "hat switcheroo" at their commitment announcement. A lot of prospects, and even fans, find it funny. But coaches HATE it and they remember it. It is patently disrespectful to the staff that spent their time, effort, money and emotions to recruit you. Of course, the losing school has a lot of self interest each time they recruit a prospect. But unless you were treated poorly, there's no need to rub it in their faces at the end. Ojo did a real song and dance with the Longhorns cap at his commitment ceremony. Recent struggles on the field Ojo really struggled at the Rivals Five-Star Challenge last week. I have been to several of these events. When a guy struggles as bad as Ojo struggled, it can mean the player is over-ranked. High School players can spend most of their career dominating the opposition in their own district. Mansfield Lake Ridge High School is in a district with other Mansfield, Crowley and Weatherford schools. It is a district with decent, but not great, opposition. Advertisement Sometimes when a prospect meets elite talent for the first time at a national event, they are overwhelmed. The Five-Star challenge has the hundred best players in the nation and the defensive lineman Ojo faced ran over, around and through him all day. It was so bad Ojo had to issue a national statement after the camp. Ojo looked slow and lackadaisical and flat-out bullied. Ojo might be incredible in Lubbock. He might be the No. 1 pick in the 2028 NFL Draft. He is certainly guaranteed to make a lot of money for himself and his family. But his entire recruitment does send up some warning signs that make it less likely Texas missed out on a generational talent and more likely the Horns dodged a bullet. Advertisement Follow us on X (formerly Twitter) at @LonghornsWire. This article originally appeared on Longhorns Wire: Four reasons Texas dodged a bullet losing 5-star Felix Ojo to Tech
Yahoo
13 minutes ago
- Yahoo
Trump says the US 'pretty much' has a deal on TikTok
ABOARD AIR FORCE ONE (Reuters) -U.S. President Donald Trump said on Friday the United States "pretty much" has a deal on the sale of the TikTok short-video app. Last month, Trump extended to September 17 a deadline for China-based ByteDance to divest the U.S. assets of TikTok. Sign in to access your portfolio
Yahoo
16 minutes ago
- Yahoo
Trump's Brazen New Lie Leads To Instant Fact-Check On Social Media
President Donald Trump on Friday made a wild new claim about wind power as he renewed his attacks on renewable energy. Trump complained that many of the components used in wind turbines are made in China, then suggested that China itself doesn't actually use wind turbines. 'I have never seen a wind farm in China,' Trump declared. 'Why is that? Somebody check that out.' In reality, China is far and away the world's leading producer of wind energy, with more than triple the current U.S. wind capacity. Trump, however, has long had issues with renewable energy ― especially wind, which he has called 'bullshit' and 'a hoax,' a grudge he has held since a dispute over an offshore wind farm near one of his resorts. Now, Trump might finally get his way as his 'big beautiful bill' will wipe out tax credits for wind and solar power, potentially decimating the industry. The Rhodium Group, a research firm, estimates the bill will put a stop to between 57% and 72% of new solar and wind projects. North America's Building Trades Unions slammed the move as 'the biggest job-killing bill in the history of this country' as those projects are cancelled. 'Critical infrastructure projects essential to that future are being sacrificed at the altar of ideology,' the organization said in a statement. New York Times columnist Thomas L. Friedman said China is 'laughing' at the United States as a result, writing: 'The Chinese simply can't believe their luck: that at the dawn of the electricity-guzzling era of artificial intelligence, the U.S. president and his party have decided to engage in one of the greatest acts of strategic self-harm imaginable. They have passed a giant bill that, among other craziness, deliberately undermines America's ability to generate electricity through renewables — solar, battery and wind power in particular.' Since Trump said 'somebody check that out' when railing against wind power, many people did exactly that ― and gave the president a fact-check:
