Hungarian-born US billionaire investor George Soros’s investment fund is actively trading bitcoin investment products, according to reports. Undisclosed sources reveal that bitcoin trading has been given the green light from Soros Fund Management’s Chief Investment Officer (CIO) Dawn Fitzpatrick.
Soros Fund Management reportedly “green light” to trade Bitcoin
In late March, Bitcoin.com News reported on George Soros’ investment fund and the company’s CIO, Dawn Fitzpatrick. At the time, Fitzpatrick said central bank digital currencies (CBDCs) were a “threat” to bitcoin (BTC), but she also said she didn’t think CBDCs “would succeed in destabilizing bitcoin for good.”
Now a report from undisclosed sources speaking with the news release website thestreet.com, says Fitzpatrick authorized Soros’ investment fund to trade bitcoin products.
Journalist Michael Bodley cites two sources who said CIO Dawn Fitzpatrick gave “the internal green light to actively trade bitcoin.” According to Bodley’s report, the sources further noted that Soros Fund Management is also researching other types of digital currency investment vehicles.
Rumors about Soros Fund Management of the billionaire – his family investment firm – investing in cryptocurrencies have surfaced since 2018. During the first week of April 2018, Bloomberg claimed that Adam Fisher, an investor at Soros Fund Management, reportedly received authorization to trade crypto assets.
Months before this rumor, George Soros discussed bitcoin and crypto assets at the 2018 World Economic Forum in Davos, Switzerland. “Well,” Soros said at the event, “cryptocurrency is a misnomer, and it’s a typical bubble that’s always based on some sort of misunderstanding.” Soros continued:
Bitcoin is not a currency. A currency is supposed to be a stable store of value. And a currency that can fluctuate twenty-five percent in a day cannot be used, for example, to pay wages because wages could drop by twenty-five percent in a day. It is therefore a speculation based on a misunderstanding.
We don’t know if Soros’ opinion of bitcoin and cryptocurrencies has changed, but in 2021 the public got wind that Soros Fund Management was joining New York Life and Morgan Stanley to invest in the investment firm. NYDIG bitcoin-focused.
Next, the fund’s CIO Dawn Fitzpatrick spoke positively about BTC and said the investment firm believes the crypto space “is at an inflection point.” Meanwhile, George Soros is a very controversial figure in the world and his past has made people suspicious of him.
When news of Soros Fund Management allegedly traded bitcoin products on crypto forums, there were a lot of jokes about the conspiracy littering the wires. “I don’t trust this guy, he’s a super bad guy in real life”, one person mentionned on the r / bitcoin subreddit forum.
What do you think of the news that Soros Fund Management is trading bitcoin products? Let us know what you think of this topic in the comments section below.
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