Soros Fund Management Plans To Launch Cryptocurrency Trading, Report Says
According to Bloomberg, citing people familiar with the matter, Adam Fisher, who is responsible for global macroeconomic investing at Soros Fund Management, has already received internal approval for cryptocurrency operations, but he has not started trading yet. The main question is whether Bloomberg's leak is a revelation, and Soros is only now intending to deal with crypto investment, or the billionaire has quietly begun to accumulate positions without unnecessary noise.
In a speech at the World Economic Forum in Davos on Jan. 25, Soros argued that cryptocurrencies like Bitcoin (BTC) cannot be considered currency due to their volatility, and that their value is speculative. The cryptocurrency markets are down 41% since Soros last expressed his thoughts on bitcoin.
Of course, Soros - is not the first billionaire, peeking toward cryptocurrency. Among them, for example, is Alan Howard, who plans to include in his portfolio "great" cryptocurrency investments. Howard's colleagues also became interested in digital currencies against the backdrop of loss-making of the main portfolios of their funds.