According to an article published by The Street, background George Soros Investment, you would be using Bitcoin among your trading options. After being published, the news spread through the main news portals related to the economy. Although this is not an official fact, the article states that the information comes from two internal sources related to the fact.
In that sense, this seems to be reinforced by the fact that the CFO of this fund Dawn Fitzpatrick, recently opined positively on Bitcoin. During an interview with Bloomberg last March, he highlighted that the main cryptocurrency is “at a turning point».
On that occasion, he said that companies dedicated to offering infrastructure for cryptocurrencies, are attractive. In that regard, he said that the fund would have been investing in some of those infrastructures. No official spokesman for that firm has denied or confirmed the leaked information. Meanwhile, the news continues to spread through the media and social networks, raising expectations.
Why would the Soros fund be trading Bitcoin?
The fact that the second most successful hedge fund of all time is turning its attention to digital assets is striking. It would be placing Bitcoin among the main options, because it would give confidence to dozens of investors followers of Soros ‘ career.
For some analysts, the issue that the Soros fund is betting on Bitcoin, reinforces the narrative of it as a first-order asset. In addition, the aforementioned fund, apart from using Bitcoin for its operations, would also have been exploring other cryptocurrencies with significant returns, the sources highlighted.
Fitzpatrick’s sympathy for the pioneering cryptocurrency has not been hidden by her, who has repeatedly winked at that digital asset. In the aforementioned interview with Bloomberg, he outlined the same concerns as many crypto investors about inflation brought on by printing excess money. Faced with this, he said that Bitcoin is a good “marginal asset».
In addition, he considers that Bitcoin is not a currency, but rather a commodity which is easy and economical to store and transfer. It also demonstrated some knowledge about the nature of the cryptocurrency queen. He therefore referred to the emission cuts (halvings) that take place every four years.
Cryptocurrency is displacing gold
Another opinion related to Bitcoin by Fitzpatrick, is that the digital currency would be displacing gold as a reserve option among investors. «When you look at gold price action, amid a solid narrative of inflation, you’ll notice that it’s losing traction. This is because Bitcoin is taking away a good part of its buyers», stress.
Moreover, he also talked about the digital currencies of central banks. He said they would have a negative impact on Bitcoin, although it would be temporary.
Taking into account these premises, focused on the interest of the CFO of the fund Soros Investment, it seems that the investment in Bitcoin is evident. However, not being officially endorsed by the firm itself, it remains a rumor. So far, no news portal has been able to ratify the leak of The Street.
Soros ‘ firm steps towards the world of cryptocurrencies
According to the two sources of this media, Fitzpatrick herself would be giving the green light to trade Bitcoin among other currencies. At the same time, they said the CFO is in talks with other firms to hire agents for the fund’s crypto strategies section.
So far, the fund is known to hold private holdings in some Blockchain companies.
As already highlighted George Soros Investment, is the second most successful hedge fund in U.S. history. It has $ 27 million under management and its annual returns are 44% since its foundation in 1970. It was founded by the legendary George Soros and Jim Rogers.