George Soros’ mutual fund allegedly trades bitcoin products – Finance Bitcoin News

The mutual fund of Hungarian-born American billionaire George Soros is reportedly actively trading Bitcoin investment products. Unknown sources indicate that Bitcoin trading has received the green light from Dawn Fitzpatrick, Chief Investment Officer (CIO) of Soros Fund Management.

Soros Fund Management reportedly has a “green light” for trading Bitcoin

At the end of March, Bitcoin.com News reported on the mutual fund of George Soros and its CIO Dawn Fitzpatrick. At the time, Fitzpatrick said that central bank digital currencies (CBDCs) were a “threat” to Bitcoin (BTC), but she also said she did not believe that CBDCs “will succeed in permanently destabilizing Bitcoin”.

Now, a report from unknown sources speaking to the news website thestreet.com states that Fitzpatrick enabled Soros’ mutual fund to trade Bitcoin products.

Reporter Michael Bodley cites two sources that the CIO has given Dawn Fitzpatrick “the green light for active Bitcoin trading internally.” According to Bodley’s report, the sources also found that Soros Fund Management is also exploring other types of digital currency investment vehicles.

Rumors of the billionaire’s Soros Fund Management – his family investment firm – investing in cryptocurrencies have surfaced since 2018. In the first week of April 2018, Bloomberg claimed Adam Fisher, an investor at Soros Fund Management, allegedly received approval 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,” said Soros at the event, “cryptocurrency is a misnomer and a typical bubble that is always based on a 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, for example, cannot be used to pay wages because wages could go down twenty-five percent in one day. So it is a speculation based on a misunderstanding.

We don’t know if Soros’ opinion on Bitcoin and cryptocurrencies has changed, but in 2021 the public learned that Soros Fund Management, along with New York Life and Morgan Stanley, invested in bitcoin-focused investment firm NYDIG.

Then the fund’s CIO, Dawn Fitzpatrick, spoke positively of BTC, saying the investment firm believes the crypto space is “at a tipping point.” Meanwhile, George Soros has become a very controversial figure in the world and his background has made people distrust him.

When news of Soros Fund Management allegedly trading Bitcoin products hit the crypto forums, there were plenty of conspiracy jokes in the threads. “I don’t trust this guy, he’s a real super villain,” said one person on the r / bitcoin subreddit forum.

“Soros is one of the most evil creatures out there … the best we can do is buy more BTC so he can get less,” wrote another person.

What do you think of the news from Soros Fund Management allegedly trading Bitcoin products? Let us know what you think on this matter in the comments below.

Tags in this story

Bitcoin Trading, CBDC, Central Bank Digital Currencies, Dawn Fitzpatrick, Dawn Fitzpatrick Bitcoin, George Soros, George Soros Bitcoin, Gold, Greenlight, Morgan Stanley, The Evilest Creatures, New York Life, Nydig, Soros, Soros Bitcoin, Soros Fund, Soros Fund Management, Super Villain, The Street, Bitcoin Threat, Unknown Sources

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