Soros Fund Management, the personal funding agency of billionaire George Soros, is trading Bitcoin (BTC), in accordance with monetary information web site TheStreet, which is seen as a step within the firm’s broader exploration of digital belongings.
A supply near TheAvenue revealed to TheAvenue that Dawn Fitzpatrick, chief funding officer at Soros Fund Management, has given the inexperienced gentle to trading Bitcoin and presumably different cryptocurrencies over the previous few weeks. The supply, who declined to be named, stated that Fitzpatrick and her group have been researching cryptocurrencies for some time, and that the brand new enterprise is “more than merely testing” digital belongings.
A consultant for Soros Fund Management declined to touch upon the information.
Fitzpatrick can be stated to be in talks to amass personal shares of main blockchain companies, although particular names weren’t disclosed. As Cointelegraph reported, Soros Fund Management is likely one of the firms behind the $200 million funding in New York Digital Investment Group (NYDIG). MassMutual, Morgan Stanley and Stone Ridge Holdings Group additionally participated.
At the time, NYDIG co-founder and CEO Robert Gutmann stated the funding spherical was proof that institutional Bitcoin adoption was on the rise.
It just isn’t clear how Soros Fund Management intends to supply Bitcoin trading, if the information is true. Billionaire George Soros’ funding agency’s entry into the digital asset area just isn’t essentially thought-about bullish, as Soros was well-known for shorting the British pound in 1992 and had a “bankrupting” impact. British items”.
However, Fitzpatrick has been vocal about Bitcoin in latest months. In March, she stated cryptocurrencies like BTC are at an “inflection point,” which may drive extra adoption sooner or later.
“We’ve invested in that infrastructure, and we think it’s an inflection point,” she informed Bloomberg in March.
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According to CoinTelegraph
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