George Soros Who Broke Bank of England in 1992 Has Ventured into Crypto Trading

As per financial news portal TheStreet, George Soros’ private investment business, Soros Fund Management, is apparently trading Bitcoin (BTC) as part of a larger study of cryptoassets. Dawn Fitzpatrick, the chief investment officer at Soros Fund Management, granted permission to trade Bitcoin and perhaps other cryptocurrencies in the last few weeks, according to people familiar with the situation.

The individuals, who spoke on the wished to remain anonymous, stated Fitzpatrick and her team had been looking at cryptocurrencies for a while and that their current endeavor is “something more than testing the tires” on cryptoassets.

TheStreet reached out to a Soros Fund Management spokesman, who refused to elaborate. Fitzpatrick is also said to be in talks to buy a private interest in a prominent blockchain-based company, however the identities of these firms were not revealed. Soros Fund Management was the first of many businesses behind the $200 million investment of New York Digital Investment Group, or NYDIG. Also present were MassMutual, Morgan Stanley, and Stone Ridge Holdings Group.

Robert Gutmann, co-founder and CEO of NYDIG, stated at the time that the funding round demonstrated that institutional use of Bitcoin was on the upswing. TheStreet’s article has already gone viral on Twitter, with a number of influential business figures entering the conversation. It’s unclear how, if ever, Soros Fund Management plans to trade Bitcoin. Given Soros’ notoriety for short selling the British pound in 1992 and thereby “busting the Bank of England,” an investing interest in the digital currency isn’t inherently encouraging.

Despite this, Fitzpatrick has recently expressed support for Bitcoin. She stated in March that cryptocurrencies such as Bitcoin are at a “crossroads” that might lead to increased acceptance in the foreseeable. In March, she told Bloomberg, “We’ve already investing in that infrastructure, and we think it is reaching a tipping point.”