CEO Fitzpatrick confirms that Soros Fund Management now owns Bitcoin
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CEO Fitzpatrick confirms that Soros Fund Management now owns Bitcoin

Saudu Clement
Saudu Clement

According to the CEO/CIO of Soros Fund, Dawn Fitzpatrick, the family office of billionaire investor George Soros (Soros Fund Management) has added Bitcoin to its already massive portfolio.

While speaking in an interview with Bloomberg on Tuesday, Fitzpatrick stated that "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.”

Her comments agree with an anonymous report from early this year that the Soros Fund had started trading bitcoin.

Soros Fund already has a history with crypto firms after investing in companies like NYDIG and Lukka. However, this is the firm's first public confirmation of having direct exposure to cryptocurrencies. Fitzpatrick added:

I’m not sure bitcoin is only viewed as an inflation hedge. Here I think it’s crossed the chasm to 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.

Back in March, the CEO/CIO gave her two cents on central bank digital currencies (CBDCs), saying that they “are going to be here I think quicker than people expect."Back then, she cited China's CBDC trials as an example and said that the country's digital Yuan poses a "potential threat to Bitcoin and other cryptocurrencies […] I don't think they'll be successful in permanently destabilizing Bitcoin."

The Soros Fund is not the only family office that has jumped on the crypto bandwagon. Steve Cohen's Point72 Asset Management recently started investing in crypto startups like Messari and Zero Hash while billionaire investor Dan Loeb's Third Point fund also reportedly holds cryptocurrency.