Soros Fund Management, the family office of billionaire investor George Soros has invested in Bitcoin, reveals the CEO Dawn Fitzpatrick.
In an interview with Bloomberg this week, Fitzpatrick talked about the Fund with $27 billion in assets under management owning BTC, but only some.
“From our perspective again, we own some coins, not a lot, and the coins themselves are less interesting than the use cases of DeFi and things like that.”
While there have been previous reports that the Soros Fund had started trading Bitcoin and has also been an investor in the space through NYDIG and Lukka, this is the official confirmation from the CEO.
“I’m not sure bitcoin is only viewed as an inflation hedge. Here I think it’s crossed the chasm to mainstream.”
She pointed to the cryptocurrencies market cap, which has surpassed $2 trillion, and more than 200 million people around the world being involved in crypto to support the fact that “this has gone mainstream.”
As Soros being a Bitcoiner spread the market, Bitcoin price went to hit a five-month high of $55,700 and claim back the status of being a trillion-dollar asset class.
While Bitcoin is leading the crypto market right now, altcoins also see gains sending the total crypto market cap to almost $2.4 trillion.
Besides crypto, Fitzpatrick also commented on central bank digital currencies (CBDCs), saying they are “going to be here, I think quicker than people expect.”
According to her, China’s digital yuan would be a “potential threat to other bitcoin and other cryptocurrencies,” But this will only be temporary, “I don’t think they’ll be successful in permanently destabilizing bitcoin,” she added.
The post George Soros Owns Bitcoin, But CEO says It’s ‘Less Interesting’ Than DeFi Use Cases first appeared on BitcoinExchangeGuide.
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