The private investment firm, The Soros Fund Management, owned by Billionaire George Soros, has been reported to be trading Bitcoin and other cryptocurrencies.
According to some sources, the investment firm is reportedly looking to explore the digital market in hopes of gaining the experience of trading in the cryptocurrency sector and finding more information about its advantages and disadvantages.
CEO of Soros Fund Management, Dawn Fitzpatrick, was the one who initiated the exploration of the cryptocurrency market for the Soros management in hopes of seeking more financial trading opportunities. The anonymous sources stated that CEO Dawn Fitzpatrick and her coworker have been experimenting with cryptocurrencies for quite some time now, and their current intentions highlight that there is definitely something in the works. Adding to that, CEO Dawn Fitzpatrick has also been in frequent contact with different companies, which involves the purchasing of private investments in multiple blockchain-powered companies and firms.
The identities of these organizations have not been revealed yet as of now. Financial News Website TheStreet proposed the Soros Fund managed to comment on the claims, but they rejected the proposal and did not want to make any comments. During an interview conducted by Bloomberg, CEO Dawn was questioned about having any Bitcoin holding, to which she refused to answer. The interviewer highlighted her answer to be something very mysterious in nature.
George Soros’s Support for Cryptocurrencies
Despite this unusual behaviour, CEO Dawn did state that Bitcoin is at a point where it will experience change, leading to a greater adoption rate. The important part of this whole scene is that George Soros had himself shown support for cryptocurrencies in April, as he formed a partnership with Bitcoin Fintech Firm, the New York Investment Group (NYDIG) and contributed nearly $200Million for its funding campaign. CEO and co-founder of the New York Investment Group (NYDIG), Robert Gutmann, stated that a successful funding campaign had displayed the immense support, rise in popularity and adoption rates of Bitcoin and other cryptocurrencies.
Currently, the Crypto Giant, Bitcoin, has been standing at a stable $35,000 price range after the recent huge crypto market crash and seeing slight ups and downs on a daily basis. As of now, the currency is experiencing a loss in value of around 4.46%, sitting at a price of $34,297.