In Brief:
- Dawn Fitzpatrick revealed in an interview that the Soros Fund Management holds Bitcoin
- The firm has also made investment in NYDIG and Lukka
- The comment from Fitzpatrick is the first public comment on direct investment in Bitcoin
The asset management company, Soros Fund Management, has invested in a popular cryptocurrency, Bitcoin, according to Soros Fund CEO/ CIO Dawn Fitzpatrick.
“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,” said Fitzpatrick in an interview with Bloomberg.
Fitzpatrick’s comments support an earlier report from this year, in which she said that the Soros fund has initiated trading in Bitcoin. Soros Fund has made investments in crypto firms such as NYDIG and Lukka.
This is the very first time when the Soros Fund has accepted in public about investment in cryptocurrency.
“I’m not sure bitcoin is only viewed as an inflation hedge. Here I think it’s crossed the chasm to the mainstream. Cryptocurrencies now have a market cap of over $2 trillion. There are 200 million users around the world, so I think this has gone mainstream,” Fitzpatrick added.
CBDC arriving
Earlier, In March, Fitzpatrick gave her view on Central Bank Digital Currencies (CBDCs). She said that “are going to be here I think quicker than people expect.”
On China’s CBDC, digital Yuan, she quoted a “potential threat to other bitcoin and other cryptocurrencies.” According to her, this threat will be temporary and she added, “I don’t think they’ll be successful in permanently destabilizing bitcoin.”
Family Offices and hedge fund giants are falling into the crypto space as they are making an investment into many crypto firms such as Steve Cohen’s Point72 Asset Management recently started investing in crypto startups such as Messari and Zero Hash.
Billionaire Investor Dan Loeb’s Third Point fund also reportedly holds cryptocurrency. In August, Simon Nixon, Founder of Seek Capital, also announced that his family office aims at investing more in crypto-assets.
