Palantir Co-Founder Joe Lonsdale On Mega-Cap Stocks And Crypto

Benzinga Real-time News ·  Jul 1, 2021 17:01

Joe Lonsdale, founding partner at 8VC and co-founder of Palantir Technologies Inc (NYSE:PLTR), provided insight on mega-cap stocks and cryptocurrency Thursday on CNBC's "TechCheck."

Mega-Cap Regulations: Although there are a lot of people complaining about mega-cap technology companies like Apple Inc (NASDAQ:AAPL), Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) and Facebook Inc (NASDAQ:FB), it doesn't look like anything will be done to negatively impact their businesses, Lonsdale told CNBC. 

It's good to have strong American companies instead of allowing Chinese companies to become global leaders, but it's also dangerous "if you have these arbitrary platforms that control such a big part of our economy," he said.

American companies and Chinese companies are playing on different playing fields, Lonsdale noted. If done correctly, regulations can be put in place that limits the power of these companies without hurting their businesses, he added. 

Lonsdale On Crypto: Technical analysis of cryptocurrencies like Bitcoin (CRYPTO: BTC) isn't that important, Lonsdale said: "I don't know if those certain levels matter so much."

The number one story is that Bitcoin has become a form of value, he said, adding investors should think of it as a financial asset that is a part of the financial economy.

It's important to follow the factors that drive the global economy and there are likely to be lingering inflationary concerns, so "Bitcoin and gold are still very interesting to me over the next year," he told CNBC.

Related Link: Rich Dad Poor Dad's Author Says 'The Biggest Crash In History Is Coming,' Recommends Buying Bitcoin, Gold

Photo by RABAUZ from Pixabay.

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