Dawn Fitzpatrick, the investment manager of Soros Fund Management would have authorized the investment in bitcoin (BTC), according to sources cited by TheStreet.com, this Wednesday, June 30. The publication maintains that the investment firm led by billionaire George Soros, would also be interested in investing in other cryptocurrencies.
The report of the financial news portal TheStreet, does not clarify who, within Soros Fund Management , you will be responsible for investments in bitcoin and other cryptocurrencies. However, Fitzpatrick is said to have held discussions with executives from other managements in search of someone to oversee the investment strategy. This investment firm manages more than USD 20,000 million in assets .
Previous positions favorable to bitcoin
A At the end of last March, Fitzpatrick spoke out against the increase in the money supply in the United States, in statements commented on by CriptoNoticias. The executive maintains that this expansionary monetary policy contributed to give bitcoin more visibility, and to be considered much more than a marginal asset.
«When it comes to cryptocurrencies, in general, I think we are in a very important time when something like bitcoin could have remained a marginal asset, but because of the fact that, in the last 12 months, the money supply in the United States increased by 25%, there is a real fear of the devaluation of fiat currencies, “Fitzpatrick said in an interview released on Thursday, March 25.
At that time, although Fitzpatrick did not offer details on the amounts or since when they have invested in bitcoin, he admitted that the fund he represents has invested in cryptocurrency “infrastructure” , which he considers to be interesting and at a turning point. Soros’ participation in an investor round with the bitcoiner company New York Digital Group (NYDIG) is also notable, as reported by CriptoNoticias.
The Soros Fund Management was founded in 1970 by George Soros and is structured as a family office. In 2010, it was named one of the most profitable firms in the hedge fund industry, with an average annual return of more than 20% for more than 40 years.
