Beautiful Virgin Islands

Tuesday, Jun 03, 2025

Speculator meets speculation: George Soros’ Investment Fund Has Reportedly Started Trading Bitcoin

Speculator meets speculation: George Soros’ Investment Fund Has Reportedly Started Trading Bitcoin

The investment fund of billionaire George Soros, otherwise known as the man who “broke the Bank of England,” has reportedly started trading Bitcoin.
Speculation that the storied investor’s firm has waded into cryptocurrencies stemmed from a report on TheStreet.com, citing two sources who said Soros Fund Management’s chief investment officer Dawn Fitzpatrick had given “the internal green light to actively trade Bitcoin.” The firm is also looking at other digital currencies, the report said.

Fitzpatrick told Bloomberg in a March interview that the company had been investing in cryptocurrency infrastructure companies—exchanges, asset managers and custodians. She said it was a “really important moment in time” for cryptos and Bitcoin could have stayed a “fringe asset,” except for the fact money supply had surged by over 25% in the last 12 months.

“So there’s a real fear of debasing of fiat currencies, and when you think about Bitcoin, I don’t think it’s a currency, I think it’s a commodity and it’s a commodity that’s easily storable, it’s easily transferable, the IRS [Internal Revenue Service] classifies it as a physical asset, it has a finite amount of supply and that supply is halved every four years, so I think it’s interesting,” said Fitzpatrick.

The No. 1 cryptocurrency was trading at $33,523 on Thursday, a drop of 3%. After a strong start to the year and reaching an all-time high of around $65,000 in April, the just-finished second quarter was set to be the worst on record for both Bitcoin and Ethereum, thanks in part to a crackdown in China.

Soros Fund Management also got a green light to trade digital assets in April 2018, reported Bloomberg, which cited sources. In January of that year, Soros himself told the World Economic Forum that Bitcoin and other digital coins couldn’t function as a currency due to volatility. Bitcoin began trading that year at $13,535, and ended at $3,721.

As for what any fresh move by Soros’ firm might mean, one analyst said it was tough to interpret.


“Any big hitters in the mix is initially considered great for the adoption story, especially if it is a vehicle to reduce portfolio variance through the low correlation effect,” said Chris Weston, head of research at Melbourne-based broker Pepperstone, in emailed comments.

The report merely said the firm has “cleared to trade this,” said Weston. So “without actually knowing much about what they plan to do they could be lumping into short positions in futures—if they take a view that liquidity beneficiaries are going to take a hit as the Fed’s balance sheet starts to grow at far slower pace and the front end of the yield curve lifts, maybe being short crypto isn’t such a bad play …”

Soros became famous for heavily shorting the pound in 1992 during the Black Wednesday crisis, and ultimately forcing the Bank of England to abandon the European Exchange Rate Mechanism. He made a $1 billion profit on that move.

TheStreet.com also reported that hedge fund Point72 Asset Management was on the hunt for a “head of crypto,” citing sources. Attempts to contact both Soros Fund Management and Point72 were made by this publication.

This story is developing and will be updated.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Dutch government falls as far-right leader Wilders quits coalition
Harvard Urges US to Unfreeze Funds for Public Health Research
Businessman Mauled by Lion at Luxury Namibian Lodge
Researchers Consider New Destinations Beyond the U.S.
53-Year-Old Doctor Claims Biological Age of 23
Trump Struggles to Secure Trade Deals With China and Europe
Russia to Return 6,000 Corpses Under Ukraine Prisoner Swap Deal
Microsoft Lays Off Hundreds More Amid Restructuring
Harvey Weinstein’s Publicist Embraces Notoriety
Macron and Meloni Seek Unity Despite Tensions
Trump Administration Accused of Obstructing Deportation Cases
Newark Mayor Sues Over Arrest at Immigration Facility
Center-Left Candidate Projected to Win South Korean Presidency
Trump’s Tariffs Predicted to Stall Global Economic Growth
South Korea’s President-Elect Expected to Take Softer Line on Trump and North Korea
Trump’s China Strategy Remains a Geopolitical Puzzle
Ukraine Executes Long-Range Drone Strikes on Russian Airbases
Conservative Karol Nawrocki wins Poland’s presidential election
Study Identifies Potential Radicalization Risk Among Over One Million Muslims in Germany
Good news: Annalena Baerbock Elected President of the UN General Assembly
Apple Appeals EU Law Over User Data Sharing Requirements
South Africa: "First Black Bank" Collapses after Being Looted by Owners
Poland will now withdraw from the EU migration pact after pro-Trump nationalist wins Election
"That's Disgusting, Don’t Say It Again": The Trump Joke That Made the President Boil
Trump Cancels NASA Nominee Over Democratic Donations
Paris Saint-Germain's Greatest Triumph Is Football’s Lowest Point
OnlyFans for Sale: From Lockdown Lifeline to Eight-Billion-Dollar Empire
Mayor’s Security Officer Implicated | Shocking New Details Emerge in NYC Kidnapping Case
Hegseth Warns of Potential Chinese Military Action Against Taiwan
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Jamie Dimon Warns U.S. Bond Market Faces Pressure from Rising Debt
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Taylor Swift Gains Ownership of Her First Six Albums
Bangkok Ranked World's Top City for Remote Work in 2025
Satirical Sketch Sparks Political Spouse Feud in South Korea
Indonesia Quarry Collapse Leaves Multiple Dead and Missing
South Korean Election Video Pulled Amid Misogyny Outcry
Asian Economies Shift Away from US Dollar Amid Trade Tensions
Netflix Investigates Allegations of On-Set Mistreatment in K-Drama Production
US Defence Chief Reaffirms Strong Ties with Singapore Amid Regional Tensions
Vietnam Faces Strategic Dilemma Over China's Mekong River Projects
Malaysia's First AI Preacher Sparks Debate on Islamic Principles
White House Press Secretary Criticizes Harvard Funding, Advocates for Vocational Training
France to Implement Nationwide Smoking Ban in Outdoor Spaces Frequented by Children
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
Russia's Fossil Fuel Revenues Approach €900 Billion Since Ukraine Invasion
U.S. Justice Department Reduces American Bar Association's Role in Judicial Nominations
U.S. Department of Energy Unveils 'Doudna' Supercomputer to Advance AI Research
U.S. SEC Dismisses Lawsuit Against Binance Amid Regulatory Shift
Alcohol Industry Faces Increased Scrutiny Amid Health Concerns
×