Soros Fund Management, the private investment firm of billionaire George Soros, is now trading Bitcoin (CRYPTO:BTC) and are considering acquiring crypto and blockchain companies.
What happened: According to The streetin recent weeks, Soros Fund Management’s chief investment officer, Dawn Fitzpatrick, moved to allow the company to actively trade bitcoin and possibly other cryptocurrencies, according to people familiar with the developments.
The announcement follows the previous one from Soros declaration that crypto is at an “inflection point”.
Fitzpatrick and his team had been exploring cryptocurrencies for quite some time and the company “doesn’t just kick tires.”
The chief investment officer of Soros Fund Management is also reportedly discussing acquiring unnamed private stakes in major blockchain companies, unnamed sources told The Street.
Read also: Brazilian crypto exchange secures $200 million in funding from SoftBank
Reports from early March show that the investment fund participated in crypto asset manager New York Digital Investment Group’s $200 million funding round.
American entrepreneur and investor Anthony Pompliano pointed out that Soros’ fund jump into Bitcoin is not necessarily bullish for the cryptocurrency.
George Soros has given his team the green light to trade bitcoin.
It could be positive or negative depending on how they trade it 🙂https://t.co/fq4LsE77gx
— Pump (@APompliano) June 30, 2021
Like Investopedia reportsSoros is particularly famous for being the trader who “broke the pound” with significant short selling activity in 1992.