Soros Fund Management owns Bitcoin

You are reading Entrepreneur United States, an international Entrepreneur Media franchise.

George Soros’ asset management firm, Soros Fund Management, owns bitcoin.

ullstein bild Dtl. | Getty Images

Dawn Fitzpatrick, CEO and chief investment officer of the company, revealed in an interview at a Bloomberg event this week that Sorors Fund Management has “a few coins,” but “not a lot.”

“I’m not sure bitcoin is only considered here as a hedge against inflation,” she explained. “I think he crossed the chasm to generalize.”

Fitzpatrick pointed out that cryptocurrencies have a market value of over $ 2,000 billion and over 200 million users.

Bitcoin, which is the most popular cryptocurrency, saw its value rise on Wednesday. It jumped 10%, from about $ 50,000 on Tuesday to over $ 55,000 on Wednesday.

The increase is notable because it came after the Central Bank of China announced that it would ban financial institutions, payment companies and internet companies from facilitating cryptocurrency trading to Chinese investors, affecting the price of the Bitcoin, end of September.

In the United States, Treasury Secretary Janet Yellen and SEC Chairman Gary Gensler have said they have no plans to impose restrictions on cryptocurrency trading.

Soros’ company isn’t the only one embracing cryptocurrency. AMC allows customers to buy movie tickets with crypto, and Twitter allows users to give advice to other content creators with Bitcoin.

Previous Epilepsy Foundation Eastern PA to host third fundraising walk
Next Soros Fund Management CEO Confirms Family Office Is Invested In Bitcoin