Veteran investor George Soros has reportedly joined the wonderful world of bitcoin, with undisclosed sources revealing last week that Soros Fund Management chief investment officer Dawn Fitzpatrick has given the green light to trade bitcoin.
Soros Fund Management has also apparently been joined by Steve Cohen’s Point72 Asset Management, which is supposedly looking to fill a new Head of Cryptocurrencies position. The recent drop in the bitcoin price has been credited by some as the result of a slowdown in institutional investment in the space, but could the tide be turning again?
Fitzpatrick added that bitcoin is especially appealing because of its versatility:
“When you think about Bitcoin, I don’t think it’s a currency, I think it’s a commodity and it’s a commodity that’s easily storable, it’s easily transferable.”
Many consider this to have been a long time coming, as Soros Fund Management first made moves to trade digital assets as early as April 2018.