Equity, Crypto Markets At All-Time Highs But It's Not All 'Green' Lights
  • 2 years ago
Social Capital ($IPOF@US) CEO Chamath Palihapitiya sold 15% of his company’s position in SoFi Technologies ($SOFI@US) this week to build cash reserves and fund several new investments. He said that while markets have been on a tear and segments ranging from equities, cryptocurrencies, art, and almost everything seems to be at all-time highs, it's not all “green lights.” Palihapitiya, who is also the Chairman of Virgin Galactic ($SPCE@US), pointed towards record-high inflation and said, “we’re printing more money than ever with talk of more stimulus on the way.” The Golden State Warriors basketball team owner wrote, “It leaves me wondering what this all means and what I should be doing, if anything?” SoFi Technologies shares fell 1.31% to $20.30 in the after-hours session on Thursday after closing 2.6% lower at $20.57. Palihapitiya noted that there are still areas of the market such as climate science, life sciences, and alternative finance that are “ripe for opportunity.” Palihapitiya is known to be a believer in Bitcoin.
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