CNBC TechCheck Evening Edition: August 12, 2025
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Chamath Palihapitiya Once Disclosed He Was A Warren Buffett Disciple, But Disagreed With The Investing Legend's 'Wrong, Outdated' Views On Bitcoin
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Venture capitalist Chamath Palihapitiya has long been a staunch advocate of Bitcoin (CRYPTO: BTC) and did not mince words when criticizing legendary investor Warren Buffett's scathing remarks about the asset. Palihapitya Defends Crypto Against Buffett's Criticism During a CNBC interview in 2020, Palihapitiya said that Buffett is "completely wrong and outdated" about Bitcoin and cryptocurrency. For background, Buffett said in an earlier interview that cryptocurrencies have no value and he will never wager his money on them. Palihapitiya then defined Bitcoin as the only 'uncorrelated hedge' in the world and urged putting 1% of one's portfolio to the apex cryptocurrency. Trending: The same firms that backed Uber, Venmo and eBay are investing in this pre-IPO company disrupting a $1.8T market — It's Okay To Have Biases, Says Palihapitiya This wasn't the first time Palihapitiya disagreed with Buffett on cryptocurrency. In a May 2018 interview with CNBC, he said, 'It's really unfair to not understand something and then disparage it,' in response to Buffett's remark that Bitcoin is "creating nothing." "I think we have to acknowledge that we all have biases," Palihapitiya added. Despite his criticism, he called Buffett an 'exceptional' person and claimed to be a 'disciple' of the renowned investor. On the date of the interview, Bitcoin closed at $9,325.18 apiece. As of this writing, it is exchanging hands at $121,809.56, marking a massive 1206.24% increase. Read Next: 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can invest today for just $0.30/share. If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it? Photo Courtesy: Kathy Hutchins On Shutterstock This article Chamath Palihapitiya Once Disclosed He Was A Warren Buffett Disciple, But Disagreed With The Investing Legend's 'Wrong, Outdated' Views On Bitcoin originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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6 hours ago
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Reddit, Inc. (RDDT) Is One Of The 'Most Undervalued Companies,' Says Jim Cramer
We recently published . Reddit, Inc. (NYSE:RDDT) is one of the stocks Jim Cramer recently discussed. Reddit, Inc. (NYSE:RDDT) is one of Cramer's top social media stocks. The CNBC TV host believes the firm's vast depository of user data will serve it well in today's AI era, where firms are hungry for training data. Reddit, Inc. (NYSE:RDDT)'s shares have gained 35% year-to-date, primarily due to a 55% surge since late July. The stock rose after the firm's second quarter revenue of $500 million and earnings per share of $0.45 beat analyst estimates of $426 million and $0.19 by a wide margin. Despite the share price gains, Cramer believes Reddit, Inc. (NYSE:RDDT) is still undervalued: 'And then. . .I think Pinterest and Reddit are the two most undervalued companies, of the new companies, because they are being scraped and the scrapers are going to have to pay the piper. Pinterest, Reddit, they're gonna pay the piper.' Copyright: dedivan1923 / 123RF Stock Photo Here are his earlier comments about Reddit, Inc. (NYSE:RDDT): 'Let me start with Reddit. I use Reddit pretty aggressively. It's a terrific product. My wife uses it to sell… her mezcal brand because Reddit has an entire mezcal forum. So I like it. The advertiser likes it. That's where I start. I then try to find out what other people… whether they feel like I do. Rob (Rob Pace, founder and CEO of HundredX) has told me that Reddit customers are planning to increase future use because people love crowdsourced information, seems to be able to be independent… Reddit demonstrates the increasing value of human intelligence, increasing value of human intelligence, I like that. In fact, he's betting that as the future of search evolves from finding things to figuring things out, Reddit could be a major winner. Now you take your own use as I have… You then take data from HundredX to see if your experience lines up with reality. Only then you go to the web, you look up articles, check out websites to see things like the piece we ran on Reddit a couple of days ago, which said it was great to buy. Wow, that's been terrific. To me, that produced a terrific, really special reason to buy the stock, and I'm sticking with it. I just wish I had bought it for my Charitable Trust when I first got the hunch, but I hadn't done the homework. Can't jump that.' While we acknowledge the potential of RDDT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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6 hours ago
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Cloudflare, Inc. (NET) 'Is By Far My Favorite,' Says Jim Cramer
We recently published . Cloudflare, Inc. (NYSE:NET) is one of the stocks Jim Cramer recently discussed. Cloudflare, Inc. (NYSE:NET) is a cybersecurity firm that enables businesses to secure their cloud, SaaS, and other networks. Its shares have gained 79% year-to-date, which makes the firm one of the top-performing stocks in the cybersecurity sector. However, Cloudflare, Inc. (NYSE:NET)'s shares dipped by 3.7% after the firm reported its second quarter earnings despite the fact that its revenue and earnings beat analyst estimates. While Cramer described the post-earnings-drop-recovery as only natural, the shares are still down by 3% from their pre-earnings levels. The CNBC TV host continues to be a Cloudflare, Inc. (NYSE:NET) fan: 'And these are companies, security, content delivery network, Cloudflare, it's simple, NET is by far my favorite. Mathew Prince, he's done s remarkable job in trying to get it so you can't crawl through, you can't scrape. He's trying to preserve the journalists, even us.' Photo by Taylor Vick on Unsplash Here's what Cramer said about Cloudflare, Inc. (NYSE:NET) after the earnings report: 'Looks like one of my favorites, Cloudflare, is finally getting its due after the cybersecurity company reported an excellent quarter last Thursday night, only to see its stock sink 3.6% on Friday, was dragged down by that quarter's sell-off. Today, though, Cloudflare snapped back, up more than 4%, which makes perfect sense because these guys delivered a clean beat and raise quarter with better-than-expected numbers in every line for the quarter, and truly strong guidance. Initially, none of this seemed to matter, but with today's rally, the stock's now sitting at its highest level in nearly four years and within spitting distance of its COVID-era peak.' While we acknowledge the potential of NET as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
