George Soros’s investment fund, Soros Fund Management, has started trading bitcoins, TheStreet reports.
According to the publication, the head of the fund Dawn Fitzpatrick and her colleagues have long considered the possibility of working with cryptocurrencies, and now it is “more than just kicking tires” (the expression means a superficial study of the subject).
Dawn Fitzpatrick has previously also discussed the possibility of buying stakes in large blockchain projects, although the names of these companies have not been announced. Soros Fund Management previously invested in New York Digital Investment Group, better known as NYDIG. Also, such reputable companies as MassMutual, Morgan Stanley and Stone Ridge Holdings Group took part in financing the project.
NYDIG CEO Robert Gutmann emphasized that these investments are evidence of the growing institutional power of Bitcoin. According to experts, this is exactly what cryptocurrencies lack to gain a foothold in the financial markets.