Financial giant! Foreign media: Soros Fund starts trading Bitcoin, intends to acquire blockchain company

Time:2021-12-28 Source: 958 views Trending Copy share

The potential of the cryptocurrency market has recently attracted the attention of many traditional financial professionals. Now even Soros Fund Management, which controls more than $5 billion in assets under the financial giant George Soros, has also reported Open the news that its traders actively enter the market to invest in cryptocurrencies.

According to the financial news media "TheStreet", sources revealed that Dawn Fitzpatrick, the investment chief of Soros Fund Management Company, has given the green light for trading Bitcoin (BTC) and other cryptocurrencies in the past few weeks.

The report also pointed out that the Soros Fund has already started research in the field of cryptocurrency. The news this time is not their initial attempt in a new field, but a planned deployment of relevant arrangements.

In addition, Dawn Fitzpatrick also proposed a plan to acquire shares in blockchain-related companies. In fact, since March of this year, the Digital Investment Group (NYDIG), which includes Soros Fund Management, has invested a large amount of US$200 million in Bitcoin. Some clues were revealed during the currency-related business plan.

In an interview with the foreign media "Bloombergs" that month, Dawn Fitzpatrick mentioned his views on related industries.

"People's concerns about the depreciation of fiat currencies have driven the demand for cryptocurrencies. We have been making some investments in the infrastructure of the crypto industry and believe that we are now at a turning point."

Market Reaction

Although large companies such as Soros Fund Management Company invest in the cryptocurrency field, it is generally an indicator of the market's bullishness, but given Soros's famous extreme investment tactics, such news also worries many investors.

At the beginning of 2018, Soros called BTC a typical bubble, and pointed out that cryptocurrency is a market full of speculation, and one of his most famous deeds is to put money into the bubble in the early stage of the bubble. In early 2010, he aggressively bought gold that was in the middle of a large-scale rebound, and rushed to leave before the bubble burst.

Regarding this news, Pomp Investment founder Anthony Pompliano believes that the impact on the market may be mixed.

"Soros has opened up the team to trade Bitcoin. This may be good news or bad news, depending on how they operate."

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