Soros Fund Management, the private investment firm of billionaire George Soros, is now trading Bitcoin (CRYPTO: BTC) and considering acquiring crypto and blockchain companies.
What Happened: According to The Street, over the last few weeks, Soros Fund Management’s Chief Investment Officer Dawn Fitzpatrick decided to allow the firm to actively trade Bitcoin and perhaps other cryptocurrencies, according to people familiar with the developments.
The announcement follows Soros’ previous statement that crypto is at an “inflection point.”
Fitzpatrick and her team had been exploring cryptocurrencies for a while and that the company is “more than just kicking the tires” on them.
Soros Fund Management’s chief investment officer is also purportedly discussing the acquisition of unnamed private stakes in leading blockchain companies, anonymous sources told The Street.
Early March reports show the investment fund participated in the $200 million funding round in crypto asset manager New York Digital Investment Group.
United States entrepreneurship and investor Anthony Pompliano pointed out that Soros’ fund jumping into Bitcoin is not necessarily bullish for the cryptocurrency.
George Soros has given his team the green light to trade bitcoin.
This could be a positive or a negative depending on how they trade it 🙂https://t.co/fq4LsE77gx
— Pomp (@APompliano) June 30, 2021
As Investopedia reports, Soros is particularly famous for being the trader who “broke the pound” with major shorting activity in 1992.
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