Foreign media: Soros Fund Management is trading Bitcoin

According to financial news website TheStreet, two people familiar with the matter revealed that Soros Fund Management has received internal approval from CIO Dawn Fitzpatrick to trade Bitcoin, and Fitzpatrick is also paying attention to other cryptocurrencies.

Sources said Fitzpatrick and her team have been exploring cryptocurrencies for some time and the latest digital asset foray is “more than just cursory research.”

Public information shows that Soros Fund Management is an American private investment management company, which is currently a family office and was previously a hedge fund. The company was founded by super-rich George Soros in 1970. According to reports, Soros Fund became one of the most profitable companies in the hedge fund industry in 2010.

In April 2021, Forbes released the Global Rich List, and George Soros ranked 288th on the list with a fortune of US$8.6 billion.

Soros Fund Management is one of the firms behind a $200 million funding round for New York Digital Investment Group (NYDIG), with participation from MassMutual, Morgan Stanley and Stone Ridge Holdings Group.

Fitzpatrick is also reportedly in discussions to acquire private stakes in a number of undisclosed blockchain-focused businesses.

It is unclear how Soros Fund Management plans to trade Bitcoin.

In January 2018, George Soros called Bitcoin a “classic bubble.” CIO Fitzpatrick has expressed praise for Bitcoin in recent months. In March of this year, she told Bloomberg that cryptocurrencies like Bitcoin are at an “inflection point,” which could promote greater adoption in the future.