Here's what Chamath Palihapitiya thinks about Tesla, SPACs, and Bitcoin

Chamath Palihapitiya is a little “skittish” about the market, the founder and CEO of Social Capital revealed in an interview with CNBC’s Scott Wapner at the news channel’s Delivering Alpha Conference on September 29^th.

The venture capitalist still owns businesses with significant growth potential and finds offline businesses exciting as they are “highly cash flow generative”.

Palihapitiya’s outlook on China, Tesla, and BTC

In his interview, Palihapitiya said he would rather avoid investing in China due to the rising uncertainty. He also took the opportunity to clarify an earlier “misreport” that said he sold his “entire” personal stake in Virgin Galactic, disclosing he still owns “a lot of Virgin Galactic”.

According to Palihapitiya, his thesis on Tesla Inc (NASDAQ: TSLA) has changed “slightly”. He’s now bullish on the leading U.S. electric car manufacturer but said he doesn’t have a sizable stake in Tesla, citing “limited capital”.

The Sri Lankan-born Canadian expects Bitcoin to continue expanding its market cap as it has “effectively replaced gold”. He, however, refrained from predicting the price of the crypto asset.

Palihapitiya’s remarks on SPAC bubble

Commenting on the SPAC bubble, Palihapitiya said:

Palihapitiya says he doesn’t care if he pays 40% in taxes or 60%; he only cares that “things get better”.