Bitcoin billionaire Palihapitiya will use his earnings to fund further investments in technologies that will shape our future.
Palihapitiya has sold 15% of its position in the crypto and stock trading platform and financial firm, SoFi.
Earlier this year, the company rose to fame after merging with a blank check company run by Palihapitiya. Currently, the company has a market capitalization of around $ 17.04 billion versus $ 8.65 billion, which is on an uptrend.
On November 19, billionaire and former Facebook chief executive Palihatiya via a tweet confirmed his decision to sell SoFi shares.
1 / A lot of us are trying to figure out what is going on in the markets these days. Here are some observations and actions we have recently taken to continue our work: pic.twitter.com/Z4yA7sS3N6
– Chamath Palihapitiya (@chamath) November 18, 2021
In his announcement, he said “Stock markets, crypto markets, art valuations, multiple SaaS – almost everything seems to be reaching all-time highs,” as he went on to explain some of the actions taken. by its investment company Social Capital.
In Palihatiya’s announcement, he said: “Stock markets, crypto markets, art valuations, SaaS multiples – almost everything seems to be reaching all-time highs ”,
Palihapitiya explained some of the actions taken by the share capital of his investment company. He mentioned California battery material innovator Mitra chem as one of the technologies that will shape the future.
After the announcement, the SoFi share price fell almost 2%.
SoFi, a modern financial platform, consists of five sections which are Investment Management, Career Development, Personal Finance Education, Capital Lending, Business Development, and Consulting.
Palihapitiya said he intends to increase the social capital investment in clover health from Medicare providers, but he did not specify by how much.
Palihapitiya has a net worth of around $ 1.1 billion with a registered capital portfolio of 74 companies, which makes him a bitcoin billionaire. Recently, he has also invested in other projects on platforms like Solana.