“They believe that cryptocurrency has an important role in the global economy as a means of facilitating payment,” said Griffin, who has previously expressed skepticism about the value of digital tokens. “These are really sharp people,” he added. “I have to live with the reality that an asset is worth what people perceive it to be worth.”
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A major campaign contributor to Republicans, Griffin also weighed in Florida’s recently enacted “Don’t Say Gay” law and Governor Ron DeSantis’s move to restrict Walt Disney Co.’s special tax status in the state. While Griffin agreed with the legislation banning discussion of sexual orientation and gender identity in classrooms with young students, he said the move to strip Disney of certain privileges smacks of retaliation for the company’s opposition to that law.
Other highlights from the interview:
- Griffin bemoaned what he called mismanagement of energy policy in the West that has limited fossil-fuel production, in part through regulation and the discouragement of financing, leaving Europe reliant on Russia for its natural gas. This has caused a “price shock” that’s ending the life dreams of tens of millions of people, he said.
- He blasted social-media curators for having “eroded free speech,” and anticipates that fellow billionaire Elon Musk will help to address that if he succeeds in his acquisition of Twitter Inc.
- Griffin said today is a “tough time” for investors seeking to deploy capital as equity markets are tumbling, shrinking the overall pie. The key is to be “quick” and “nimble” to take advantage of trading opportunities. The next couple of months will be “incredibly telling,” he said. “It’s been in an environment where we believe that holding stock outright long is likely to be a punishing experience,” he said.
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