Is George Soros’ Investment Fund Trading in Bitcoin?

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There are reports floating around claiming that Soros Fund Management, which is owned by Hungarian billionaire George Soros, has been engaged in trading Bitcoin as a part of the company’s wider exploration of present-day digital assets. Dawn Fitzpatrick, the company’s chief investment officer, gave a thumbs up to trade in the cryptocurrency, along with a few others.

Undisclosed sources have said that Fitzpatrick, along with her team, considers cryptocurrencies as a major area of interest. She is said to be in talks with blockchain companies about acquiring private stakes in cryptocurrency providers. It is reported that Soros Fund Management is one of the many companies that provided $200 million in funding to New York Digital Investment Group (NYDIG). Morgan Stanley, MassMutual, and Stone Ridge Holdings Group were a few other participants.

It is still not clear how George Soros’ company intends to engage in Bitcoin trading. Any investment in the cryptocurrency does not indicate bullish conditions, given that the company has earned its reputation for “breaking the Bank of England.”

Nonetheless, Fitzpatrick spoke in favor of Bitcoin. She believes that cryptocurrencies could be at a point where they can witness a higher adoption rate in the future. This is an inflection point, as claimed by Fitzpatrick, and the company is keenly interested in investing in the infrastructure. While this rumor may or may not be true, it has certainly caused many people to speculate about the move, especially when George Soros assumes a controversial reputation and has a background that people distrust.

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