Close Menu
Invest Insider News
    Facebook X (Twitter) Instagram
    Wednesday, September 16
    Facebook X (Twitter) Instagram Pinterest Vimeo
    Invest Insider News
    • Home
    • Bitcoin
    • Commodities
    • Finance
    • Investing
    • Property
    • Stock Market
    • Utilities
    Invest Insider News
    Home»Bitcoin»Billionaire investor reveals he would rather bet on space than Bitcoin
    Bitcoin

    Billionaire investor reveals he would rather bet on space than Bitcoin

    June 24, 20263 Mins Read


    We are nearing the end of June and nothing seems to move the needle for Bitcoin (BTC).

    We have seen Bitcoin stuck in a tight range between $62,000 and $64,000 for almost two weeks now. There have been occasional spikes to $67,000 but it has failed to sustain the momentum.

    In fact, Decibel data shows it was trading near $61,795, having dropped more than 1% in the past 24 hours.

    The sentiment is souring across the board and is spilling to billionaire investor Philippe Laffont, founder and portfolio manager of Coatue Management.

    Speaking on CNBC’s “Squawk Box” on June 23, the technology investor revealed he doesn’t know how to feel about Bitcoin anymore. 

    Related: AI agents prefer Bitcoin over money, study finds

    Bitcoin’s role as a speculative ‘off-ramp’ is shrinking

    Laffont said he no longer knows what to make of the world’s largest cryptocurrency and would rather place bets on space and artificial intelligence companies.

    “I don’t know what to think about Bitcoin anymore…I’m a little bit more worried,” he said.

    Laffont’s thesis is that Bitcoin filled a particular gap in markets when public listings were scarce, and index investing left investors hunting for something speculative. 

    That gap, he argued, is now being filled from both sides. On one side is a fresh batch of “fabulous IPOs” in space and AI. On the other, stablecoins, which he said give people a way to “put your money offshore” or into a new system, with some structures already paying rewards that resemble interest. 

    Stablecoins are cryptocurrencies that are meant to have a stable value, often pegged 1:1 to fiat currencies like the dollar or euro or a commodity like gold. 

    In fact, the “space” half of his argument has a recent benchmark. SpaceX (NASDAQ: SPCX) completed the largest initial public offering in recent history on June 12, pricing at $135 per share to raise about $75 billion at a valuation near $1.77 trillion. 

    “I would rather bet on space going to quadruple over the next 20 years,” Laffont said. 

    But what Laffont glossed over is that SpaceX’s S-1 filing also dropped a notable crypto disclosure. SpaceX held 18,712 BTC on its balance sheet as of March 31, valued at $1.29 billion against a $661 million cost basis. That makes Elon Musk’s rocket company the eighth-largest publicly traded corporate holder of Bitcoin and also a sliver of crypto exposure into a stock Laffont considers as the future of public markets.

    Trending on TheStreet Roundtable:

    Laffont sees a $10 trillion company ahead

    Laffont pointed to a widening pool of trillion-dollar names, including the existing Magnificent 7. 

    The “Magnificent 7” are the seven dominant U.S. tech stocks driving market gains. It includes Apple (NASDAQ: AAPL), Microsoft (NASDAQ: MSFT), Alphabet (NASDAQ: GOOGL), Amazon (NASDAQ: AMZN), Nvidia (NASDAQ: NVDA), Meta (NASDAQ: META) and Tesla (NASDAQ: TSLA).

    Laffont said,

    “I find that debate, and trying to figure out which of those companies might be a $10 trillion company, sort of easier for me than figuring out where’s Bitcoin going to be in ten years.”

    Laffont predicted a few possible additions like OpenAI, Anthropic, SpaceX and a second large space company such as Blue Origin, as the index of the future he would rather own.

    Related: Major exchanges cancel SpaceX IPO allocations

    This story was originally published by TheStreet on Jun 24, 2026, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleBitcoin Price Craters To $59,000. The Worst Might Be Coming
    Next Article Kevin Warsh’s first Fed meeting sends gold, silver, and Bitcoin tumbling

    Related Posts

    Bitcoin

    Bitcoin, Ethereum And Other Major Cryptocurrencies Tumble As CLARITY Act Fails – Forbes

    September 15, 2026
    Bitcoin

    Bitcoin, Ethereum, XRP Crash As CLARITY Act Fails To Pass Senate Vote

    September 15, 2026
    Bitcoin

    Bitcoin tumbles 3% to $76,000 as hopes of CLARITY Act passage this year fade – Yahoo Finance

    September 15, 2026
    Leave A Reply Cancel Reply

    Top Posts

    How is the UK Commercial Property Market Performing?

    December 31, 2000

    How much are they in different states across the US?

    December 31, 2000

    A Guide To Becoming A Property Developer

    December 31, 2000
    Stay In Touch
    • Facebook
    • YouTube
    • TikTok
    • WhatsApp
    • Twitter
    • Instagram
    Latest Reviews
    Bitcoin

    Bitcoin (BTC) Price Holds Support Levels As Pepeto Approaches Tier‑1 Listing

    December 24, 2025
    Bitcoin

    Metaplanet Acquiert 2 205 Bitcoin et Porte ses Réserves Totales à Plus de 15 500 BTC

    July 6, 2025
    Stock Market

    Dow, S&P 500, Nasdaq rise after Trump and Xi hold call on trade

    September 19, 2025
    What's Hot

    S&P 500 extends winning streak to 6 weeks. What drove the stock market gains

    May 9, 2026

    Bitcoin To Have a ‘Great Second-Half’ of 2024, Says Crypto Analyst Michaël van de Poppe – Here Are His Targets

    July 17, 2024

    Dispersion Trade Thrives — But What If Volatility Converges?

    February 13, 2026
    Most Popular

    What Earnings Say About the Cautious US Consumer Ahead of Black Friday

    November 25, 2025

    Bitcoin drops below $90K as selloff triggers $580 million in liquidations

    January 20, 2026

    US wholesale: Week 44 ‘market pulse’ updates available on key seafood commodities

    October 27, 2025
    Editor's Picks

    White & Case advises Hartree Partners on acquisition of debt and agreement to acquire ED&F Man Commodities’ business units

    August 7, 2024

    Quantum Computing Breakthrough Shatters Bitcoin Encryption — What It Means for Crypto

    April 25, 2026

    Dow, S&P 500, Nasdaq futures plunge as Nvidia reveals costly limits on China exports

    April 16, 2025
    Facebook X (Twitter) Instagram Pinterest Vimeo
    • Get In Touch
    • Privacy Policy
    • Terms and Conditions
    © 2026 Invest Insider News

    Type above and press Enter to search. Press Esc to cancel.