Soros Fund Management Reportedly Started Trading Bitcoin

Soros Fund Management reportedly started trading Bitcoin and the approval to trade it was given by CIO Dawn Fitzpatrick as per the new reports that we have in our Bitcoin news.

Soros Fund Management is a private investment firm of Billionaire George Soros that started trading BTC as a part of a broader exploration of digital assets. People familiar with the matter explained that Dawn Fitzpatrick who is the chief investment officer for Soros Fund Management gave the green light to trade BTC and other cryptocurrencies in the past few weeks. Speaking of anonymity, the sources said that Fitzpatrick and her team started exploring crypto for some time now and that the latest venture is more than just “kicking the tires” on crypto.

Fitzpatrick is reportedly in conversations about acquiring a private stake in leading blockchain-based enterprises though the names of these companies were not provided. Soros was one of the few companies behind the $200 million funding of the New York Digital Investment Group or NYDIG while Stone Ridge and Morgan Stanley also participated. At the time, NYDIG co-founder and CEO Robert Gutmann said that the investment round was the only evidence that the institutional adoption of BTC was rising. It’s not entirely clear how the fund manager intends to trade BTC but the investment stake in the assets should not be seen as bullish given that Soros earned his reputation for shorting the British pound in 1992 and “broke the bank of England.” however, Fitzpatrick spoke about bitcoin in the recent months and she even said that cryptocurrencies like Bitcoin are at an inflection point which will catalyze greater adoption in the future:

“We’ve been making some investment into that infrastructure and we think that is at an inflection point.”

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

Bitcoin is at its inflection point caused by the current global economic situation according to the Chief Investment Officer of Soros Fund Management, Dawn Fitzpatrick. However, she warned that the upcoming launch of central bank digital currencies could harm the number one cryptocurrency in the short term. Founded by Georgi Soros in 1969, the Soros Fund Management is a privately owned hedge fund sponsor that invests in public equity and fixed income markets and now the CIO of the fund spoke about the growing crypto space in a Bloomberg interview, saying that the entire industry is “very interesting.”