Soros Fund Management, the family office of billionaire investor George Soros has made investments in Bitcoin, according to Dawn Fitzpatrick, the CEO of Soros Fund.
“”From our perspective again, we own some coins, not a lot, and the coins themselves are less interesting than the use use cases of DeFi and things like that.”, said Fitzpatrick in an interview with Bloomberg on Tuesday.
His comments confirmed the reports from earlier this year when Soros Fund said that it was trading in Bitcoin. The firm also invests in crypto firms, such as Lukka and NYDIG. However, this was its first public confirmation of investments in cyrptocurrency.
“I’m not sure bitcoin is only viewed as an inflation hedge. Here I think it’s crossed the chasm to mainstream. Cryptocurrencies now have a market cap of over $2 trillion. There’s 200 million users around the world, so I think this has gone mainstream,” said Fitzpatrick.
Views on CBDCs
Fitzpatrick expressed her views on central bank digital currencies in March and said that they “are going to be here I think quicker than people expect.” During this time, she gave an example of China’s CBDC’s trials of the digital yuan, and said that it could be a “potential threat to bitcoin and other cryptocurrencies.” However, she also mentioned that it will be temporary and wouldn’t be able to destabilize bitcoin permanently.
Many hedge fund giants, as well as family offices have been investment into crypto. Point72 Asset Management, founded by Steve Cohen has also recently begun to invest in crypto startups, such as Zero Hash, and Messari.
‘George Soros’ family office owns bitcoin, confirms CEO Fitzpatrick‘- Yogita Khatri, The Block
