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Soros Fund Management, billionaire George Soros’ private investment firm, is reportedly trading Bitcoin. This according to financial news website TheStreet.
As part of a broader exploration of digital assets, Dawn Fitzpatrick, Chief Investment Officer for Soros Fund Management, recently green-lighted to trade Bitcoin and possibly other cryptocurrencies. According to the anonymous sources that TheStreet used, Fitzpatrick and her team have been exploring cryptocurrencies for a long time and that their reported trading activities are “more than just kicking the tires” on crypto.
Soros Fund Management has so far declined to comment.
How Soros Fund Management intends to trade Bitcoin is not entirely clear. And despite Fitzpatrick’s recent favorable comments regarding the cryptocurrency, it remains to be seen what the effects of the Soros fund involvement will be. In 1992 Soros got know for shorting the British Pound and leaving his mark on the Bank of England.
In March, the Soros Fund Management CIO had said that Bitcoin and other cryptocurrencies are at an “inflection point”, which was partly due to the increased money supply in the U.S.
She further said that Bitcoin is “interesting” and no longer a “fringe asset” and that therefore the Soros Fund Management is investing in cryptocurrency infrastructure. However, she did not go into detail about actual cryptocurrency investments of the Fund.
The news has been circulating on Twitter and a hot topic for discussion.
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
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Author: Peter Siu