Michael Novogratz, the US billionaire and founder and CEO of Galaxy Digital Capital Management, said on Thursday that shorting Tesla’s stock had made him a “black eye” because the company’s share price had soared in recent days at a rate almost as fast as it was during the Bitcoin bubble.
“I was so arrogant that I wanted to pierce it on top of a bubble and got a black eye, ” says Mr Novograz. “
Novogratz was also an early investor and super-bull for Bitcoin. In an interview on Thursday, he said Tesla, like Bitcoin in 2017, was no longer a “basic story” and was now driven by engaging narratives and “any good news”, such as the strong earnings report released after Wednesday’s session.
Novogratz also said he remains a big fan of Tesla, even owning two Tesla cars, and plans to exit a short Tesla position soon”, “without that much pain.” “
Novogratz also said he was still bullish on bitcoin, even after rising 30 percent so far in the year.