chamath palihapitiya speaking at the 2017 delivering alpha conference in new york on sept 12 2017 consumers have been sitting at home for months and months and without typical things to spend money on assets in bank accounts are growing and that is a positive sign for stocks according to social capital ceo chamath palihapitiya he said the combination of consumers savings and cash in money markets jumping to an alltime high will act as rocket fuel for assets whether those are housing markets or whether those are capital purchases like cars or vacations or stocks in this case if were still under a lockdown these things are just going to go to the moon for awhile he said thursday on cnbcs halftime report you just have to be long everybody whos trying to understand why you shouldnt be long is i think going to regret it for at least the next 18 to 24 months his comments came as the major averages soared to new alltime highs on thursday after also advancing on wednesday despite the turmoil in washington investors are hoping that a democraticcontrolled congress will lead to more stimulus payments for consumers palihapitiya said that with stocks at record highs investors shouldnt just dump the names that have worked his comments were specifically related to his position in tesla despite the stocks 750 gain over the last year palihapitiya said he believes shares can double or even triple i dont understand why people are so focused on selling things that work he said when things are working youre paid to stay with people that know what theyre doing this is a guy elon musk who has consistently been one of the most important entrepreneurs in the world and so why bet against him he said palihapitiya also weighed in on the record run in bitcoin as the cryptocurrency topped 40000 for the first time on thursday its probably going to 100000 then 150000 then 200000 palihapitiya told cnbc in what period i dont know maybe five or 10 years but its going there on thursday online finance startup sofi announced that it will go public by merging with a blankcheck company run by palihapitiya subscribe to cnbc pro for exclusive insights and analysis and live business day programming from around the world