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Cryptocurrency : Bitcoin would be among the George Soros Investment fund’s options

According to an article published by The Street, the George Soros Investment fund would be using Bitcoin among its trading options. After being published, the news spread through the main news portals related to the economy. Although it is not an official event, the article assures that the information comes from two internal sources related to the event.

In that sense, this seems to be reinforced by the fact that the CFO of this fund, Dawn Fitzpatrick, recently gave a positive opinion on Bitcoin. During an interview with Bloomberg last March, he highlighted that the main cryptocurrency is “at a turning point.”

On that occasion, he assured that companies dedicated to offering infrastructure for cryptocurrencies are attractive. In that sense, he said that the fund would have been making investments in some of these infrastructures. No official spokesperson for that firm has denied or confirmed the leaked information. Meanwhile, the news continues to run 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. Bitcoin would be being placed among the main options, because it would give confidence to dozens of investors who follow Soros’s career.

For some analysts, the fact that the Soros fund is betting on Bitcoin, reinforces the narrative of this 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 pioneer cryptocurrency has not been hidden by her, who on numerous occasions has 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 excess money printing. Against this, he said that Bitcoin is a good “marginal asset.”

Also, consider that Bitcoin is not a currency, but rather a commodity which is easy and inexpensive to store and transfer. He also demonstrated some knowledge about the nature of the queen cryptocurrency. Consequently, he mentioned the emission cuts (halvings) that are made every four years.

Soros Investment CFO Dawn Fitzpatrick has expressed her sympathies for Bitcoin, which is making the information that the fund would be using that cryptocurrency among its trading options.  Source: Wall Street JournalSoros Investment CFO Dawn Fitzpatrick has expressed her sympathies for Bitcoin, which is making the information that the fund would be using that cryptocurrency among its trading options.  Source: Wall Street JournalSoros Investment CFO Dawn Fitzpatrick has expressed her sympathies for Bitcoin, which is making the information that the fund would be using that cryptocurrency among its trading options.  Source: Wall Street JournalSoros Investment CFO Dawn Fitzpatrick has expressed her sympathies for Bitcoin, which is making the information that the fund would be using that cryptocurrency among its trading options. Source: Wall Street Journal

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, amidst a solid inflation narrative, you will notice that it is losing traction. This is because Bitcoin is taking away a good chunk of its buyers.», He stressed.

On the other hand, he also spoke about central bank digital currencies. He said that they would have a negative impact on Bitcoin, although it would be temporary.

Taking into account these premises, centered on the interest of the CFO of the Soros Investment fund, it seems that the investment in Bitcoin is evident. However, as it is not officially endorsed by the firm itself, it remains a rumor. So far, no news portal has been able to confirm The Street leak.

Soros’ firm steps into the world of cryptocurrencies

According to the two sources of this communication medium, Fitzpatrick herself would be giving the green light to trade Bitcoin among other currencies. At the same time, they said that the CFO is in talks with other firms to hire agents to run the fund’s crypto strategy section.

So far, the fund is known to hold private stakes in some Blockchain companies.

As George Soros Investment has already highlighted, it is the second most successful hedge fund in US history. It has $ 27 million under management and its annual returns are 44% since its founding in 1970. It was founded by the legendary George Soros and Jim Rogers.

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