Hedge fund legend George Soros’ investment company is actively trading bitcoins, after its chief investment officer, Dawn Fitzpatrick, gave the green tone to enter virtual currencies, The Street reported on Wednesday.
Soros Fund Management has been contemplating making an investment in cryptocurrencies since 2018. In recent months, a number of hedging budgets and investments have been attracted to the market, worth more than $2,000 billion before the latest drop in value.
Fitzpatrick, the chief investment officer at Soros Fund Management, has allowed industrialists to prepare for the industry’s bitcoins in recent weeks, other people close to the matter told The Street.
Soros Fund Management has already invested in the cryptoinfrastructure. The company that was once a hedge fund is now structured as a circle of family members in the workplace and manages about $27 billion, Bloomberg said in March.
It was one of the few New York Digital Investment Group corporations in a round of $200 million, along with Morgan Stanley and others.
Technology investor and Bitcoin bulle Anthony Pompliano said on Twitter that Soros’ investment can be “positive or negative, depending on how they develop it. “
George Soros made himself known around the world in the 1990s by opposing sterling, which earned him the reputation of being the guy who blew up the Bank of England.
Earlier this week, interprofessional broker TP ICAP announced that it would establish a crypto trading platform for hedge funds, investment banks and institutions.
Insider trading could not touch Soros Fund Management, but the company declined to comment on Bloomberg and other media outlets, they reported.