Social Capital chief executive officer and venture capitalist Chamath Palihapitiya called bitcoin his greatest investment.
In a series of tweets published on September 23, Palihapitiya outlined his approach and attitude towards investing, including detailing some of the better “bets” he has made throughout his career.
The billionaire venture capitalist reiterated the importance of “slugging percentage” for judging portfolios, which he defined as having a larger stake in one winner versus small pieces in “many winners.”
Palihapitiya cautioned investors to understand what they own and to be willing to go “all in” if necessary. He argued that that an investor should be confident enough in their position to seize opportunities as they arise and use slugging percentage as the ultimate gauge for success.
The popular investor pointed to bitcoin as a primary example of his success with slugging percentage. While Palihapitiya said he had made some “great bets before” in his career, nothing compared to his investment in bitcoin in 2012.
He concluded his tweet chain by reminding crypto investors to continue to “HODL.”
In June, Palihapitiya made headlines after calling bitcoin a “bet against the ruling class,” noting that bitcoin could serve as a hedge against economic catastrophe.
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