To The Moon

Here are 6 Simple Reasons I am Bullish $SoFi Technologies Inc.(SOFI)$

1/ Rockstar CEO

Investors worry about Wars, Oil Shocks, Pandemics, High Interest Rates, and BS Short Reports.

Anthony Noto Executes.

- During Covid $SOFI pivoted from student lending to consumer loans. Bears cried about the use of Fair Value Accounting over CECL, but $SOFI executed.

- During the inflation crisis of 2022, bears promised huge loan losses, which didn't happen.

- There have been numerous short reports and bearish takes, $SOFI has proven them all to be baseless.

2/ Student Loan Originations

Student loans have been $SOFI bread and butter.

This is an ingenious way to acquire high-value long-term customers.

Student loan refinancing brings in high-income, creditworthy borrowers early in their financial lives, giving the company a strong foundation of low-risk, valuable customers.

Once onboarded, SoFi can cross-sell products like banking, investing, and personal loans, turning a single refinance into a long-term, multi-product relationship.

This business is accelerating again after a long moratorium. With student loan originations +46% Y/Y in 2025 and +147% from the 2022 bottom.

3/ Member Growth

- 1.9M in 2020

- 13.7M in 2025

- 7x in 5 years!

Member growth is critical because $SOFI model is built on maximising lifetime value, where each new member can adopt multiple products over time, driving compounding revenue.

It has been so strong due to effective marketing and attractive entry products like checking accounts and the already-mentioned student loan refinancing.

As the member base scales, it also creates a flywheel effect:

more data=better underwriting=higher cross-sell conversion=accelerating growth.

4/ Loan Platform Business

The Lending Platform Business uses $SOFI technology and underwriting models to originate loans on behalf of partners, with $SOFI not holding the risk, whilst charging an origination fee.

This turns lending into a scalable, capital-light service.

This diversifies revenue away from balance-sheet lending, allowing the company to grow originations without taking on proportional credit risk.

The segment is also very profitable as $SOFI doesn't have to fund the loan and incur default losses, it simply earns fees.

Just a few days $SOFI raised $3.6B for the LPB, on top of the over $10B it raised last year.

5/ Expansion to Crypto

$SOFI US dollar stablecoin, SoFiUSD, will support settlement across the Mastercard network.

Historically, card transactions are settled by banks in fiat currency through central banks, taking a long time, sometimes days.

This partnership allows $SOFI to move money instantly at any time, instead of waiting days for traditional banks to process transactions. Issuers and acquirers can choose to settle transactions in SoFiUSD, allowing for 24/7/365 instant settlement.

Simply put, by using their own digital currency, they can avoid paying expensive fees to middleman banks and keep more of that profit for themselves.

Sofi will begin by settling all its Mastercard transactions using SofiUSD, demonstrating the usefulness of this technology.

Then, through its Tech Platform business, other companies will use this faster technology.

There are huge applications for this technology in:

- Remittances

- B2B Payments

- Bank-to-Bank Settlements

$SOFI has the potential to make billions in fees from its stablecoin.

The way it works is that each $1 of SoFiUSD is backed by $1 of actual fiat money.

For instance, Tether, the issuer of USDT stablecoin, has $184B in circulation, backed by $184B in fiat, which is invested in stable assets, generating billions in interest income.

If the SoFiUSD stablecoin gains traction with banks to settle Mastercard transactions, remittances, and other payments, it could reach volumes in the tens of billions.

Let's say SoFiUSD gets to $40B in circulation.

At 3.5% interest rate, that would generate over $1.4B in revenues.

Operating costs for such a business would be minimal, as everything is automated. Also, unlike for bank deposits, SoFi wouldn't incur any interest costs.

They could realistically have an 80-90% pre-tax margin.

That's $1.1-1.3B in pre-tax earnings.

For context, in 2025, $SOFI earnings before taxes were $526M.

So this one product alone could double Sofi's pre-tax 2025 earnings.

And this doesn't even include any additional transaction, maintenance, or SaaS fees that it could generate.

6/ Inflecting Profitability

$SOFI is transforming from a money-losing fintech into money printing machine.

All the pieces are falling into place.

Pre-tax earnings now reached $526M, up 125% Y/Y.

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