Trending
sofi share prices down 2 after billionaire chamath palihapitiya sold 15 of his position in sofi

SoFi share prices down 2% after Billionaire Chamath Palihapitiya sold 15% of his position in SoFi

Bitcoin billionaire Palihapitiya will be using his earnings to fund other investments in technologies that will shape our future.

Palihapitiya sold 15% of his position in the crypto and stock trading platform and finance company, SoFi.

Earlier this year, the company became famous after a merger with a blank-check company that was led by Palihapitiya. Currently, the company has a market cap of about $17.04 billion from $8.65 billion, which is a bullish trend.

On Nov. 19, a billionaire and a former senior executive at Facebook, Palihatiya via a tweet confirmed his move to sell SoFi stock.

In his announcement, he stated “Equity markets, crypto markets, art valuations, SaaS multiples — almost everything seems to be at all-time highs,” as he went on to explain some of the moves his investment firm Social Capital has made.

In Palihatiya announcement, he stated: “Equity markets, crypto markets, art valuations, SaaS multiples — almost everything seems to be at all-time highs,”

Palihapitiya explained some of the moves his investment firm’s social capital is making. He mentioned California-based battery material innovator Mitra chem as one of the technologies that will shape the future.

After the announcement, SoFi share prices fell nearly 2%.

SoFi, a modern finance platform, consists of five sections that is investment management, career development, personal finance education, capital lending, and business development and consulting.

See also  Mark Mobius says crypto is a religion, not investment

Palihapitiya said that he intends to increase social capital investment in Medicare provider clover health, however, he did not say by how much.

Palihapitiya has a net worth of about $1.1 billion with a Social Capital portfolio consisting of 74 companies, making him a bitcoin billionaire. Recently he has also invested in other projects on platforms like Solana.

The post SoFi share prices down 2% after Billionaire Chamath Palihapitiya sold 15% of his position in SoFi appeared first on Coin Journal.

Source coinjournal

X