Bankman-Fried’s fortune has been split in half since March ending. Based on the Bloomberg Billionaire Index, he now has a net worth $11 billion, which was previously $22 billion. He believes the crypto market is not going down to zero, and would instead recover with stocks.
Sam Bankman-Fried Remains Bullish On Crypto
Bankman-Fried’s decision to hold his Cryptocurrencies are akin to that of Billionaire Elon Musk, who holds a variety of digital currencies including Bitcoin, and has refused to sell despite continuous market dip. Other institutional holders like Microstrategy’s Michael Saylor also uphold the same views.
Meanwhile, the billionaire’s Robinhood 7.6% share purchases from Thursday, has taken the Cryptocurrency market by storm.
After paying about $648.3 million for the purchase, Sam Bankman-Fried’s position was equivalent to $56 million shares of Robinhood (HOOD), the prominent online brokerage.
He made it clear that he had no intentions of carrying out any action that’ll change or influence the control of Robinhood. He pointed out that he simply saw Robinhood as an “attractive investment”.
