Victor Ugochukwu · Dec 14, 2020 . 5min read
Chamath Palihapitiya says nothing but compares to his 2012 Bitcoin Investment gains
Chamath bought Bitcoin back then in 2013 when the price was around $80 and had almost 5% of the cryptocurrency's total supply.
By Victor Ugochukwu · Sep 23, 2020 . 4min read
Chamath Palihapitiya, the legendary Silicon Valley investor and former Facebook executive, CEO of Social Capital and also Chairman of Virgin Galactic brags of his gains on his 2012 Bitcoin investment saying none of his bold bets compares to it.
In a recent tweet, Chamath Palihapitiya said he even though he has made some good investment moves, nothing compares to Bitcoin.
For example, I’ve made some great bets before but nothing compares to my bitcoin bet in 2012 and sizing up…
For context, Chamath repurchased Bitcoin then in 2013 when the price was around $80. And had almost 5% of the cryptocurrency’s total supply as part of his investment portfolio. According to him, even though he hasn’t bought more since then,
“Most of my bitcoin now sits with a company and they use it for trading purposes. They use it to run a bunch of other strategies,”
And for anyone who is thinking about the Slugging Percentage concept Chamath mentioned, it’s a baseball term that is now applied in investment finance. For those familiar with baseball sports, slugging percentage is a measure of the batting productivity of a hitter. Hence, as compared to batting average, slugging percentage gives more weight to extra-base hits. And as Chamath Palihapitiya puts it,
All great investors have gotten one big thing right: they focus on slugging percentage.
They know when to capitulate, buy up when to be “risk-on” and ride the winners. They care more about owning a big piece of one winner vs irrelevant pieces in many winners.
Chamath’s advice to Investors
Chamath advises investors to take the time to understand what they own. And if necessary they could go “all in”. Of course, he is a finance expert, and investment adviser and Chamath Palihapitiya’s strategy also applies to those investing in Bitcoins.
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