By : Elon Musk might be burning through cash as he seeks to steady the teetering Tesla ship, but hedge funder Mike Novogratz hinted that he would be first in line to invest in his fellow billionaire’s other high-profile project, SpaceX. If SpaceX ever launched its stock on a network, that is.
Elon Musk Should Issue SpaceX Stock on a Blockchain
, the CEO of Galaxy Digital and a former hedge fund manager at Fortress Investment Group, has been on a tear this month discussing , but he’s also a vocal proponent of “.” He thinks should be, too.
Following SpaceX’s into space Friday morning, Novogratz tweeted:
“Wish they would tokenize @SpaceX…This is very cool. Hats off @elonmusk.”
Wish they would tokenize This is very cool. Hats off
— Michael Novogratz (@novogratz)
Subject to regulatory restrictions, companies can “tokenize” their stock by issuing shares on a . Novogratz and others believe – that represent ownership in other assets – could upend Wall Street.
Facebook is ‘Wildly Important’ for Crypto
When Novogratz spoke to CNBC following his tweet, he didn’t float the idea of Elon Musk launching stock into the orbit.
However, he did discuss another major billionaire’s crypto play: Facebook’s “.”
Unlike many crusty insiders, Novogratz said Facebook’s crypto plans are “wildly important” for .
“Facebook is wildly important for the ecosystem” – on “ is not going to be a payment currency. is going to be a stored value just like gold.”
— Squawk Box (@SquawkCNBC)
Interviewer Andrew Ross Sorkin tried to draw a parallel between Facebook’s stablecoin and the hundreds of other failed that cropped in 2017 – and failed miserably.
Novogratz dismissed that notion:
“Facebook is wildly important for the ecosystem. Here we have one of the biggest companies in the world say ‘ are going to be a part of our future’ if you believe [Facebook] will have a stable-ish coin, or a coin that’s going to be linked to some basket of currencies.”
The Galaxy Digital founder further pointed out that GlobalCoin’s utility is as a payment currency, which won’t infringe on ’s turf as “digital gold.”
“Quite frankly, [Facebook’s ] credentializes the whole space. is not going to be a payment currency. It’s going to be a of value, just like gold. It’s going to be what people perceive as a of value.”
Novogratz is so gung-ho with Facebook’s payment coin that he thinks it has a chance to become a real currency – not just a niche curiosity.
Could the same be in for Elon Musk and SpaceX stock?
Published at Sun, 26 May 2019 18:50:45 +0000
