Billionaire octogenarian George Soros is hearing having an eye of interest in cryptocurrency trading.
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If true, the move would be a remarkable turnaround for the business magnate, who’s previously been scathing of bitcoin, calling it a bubble and a tool of dictators.
The 87-year-old George Soros’ best years are also behind him, however, the big businessman still is aware of a chance for profit once he sees it.
Crypto assets have historically been met with skepticism by senior investment figures like Saint George Soros and Warren Buffet, whose investment art is streets before their technical school information.
Soros Fund Management on his family investment firm has $26 billion in assets and is believed to have booked some of that capital for crypto. Bloomberg claims that Adam Fisher, an investor at Soros Fund Management, has received the go-ahead to trade virtual currencies. Should this prove to be the case, it would make sense for Soros to enter now that the markets have cooled off, having dropped three-fold from their December peak.
Bitcoin’s recent history is littered with public figures who’ve written cryptocurrency off, only to later eat their words and stake a claim. Jamie Dimon’s view on bitcoin has softened considerably, and it appears that George Soros may also have seen the brighter side of the coin. He said recently as January, currently [bitcoin] is used mostly for tax evasion and for the rulers in dictatorships to build a nest egg abroad. But it doesn’t stop Soros to still participate in the said investment to gain more profit.
The cryptocurrency markets are down 41% since Soros last shared his thoughts on bitcoin. If he’s joining is confirmed, it will surely give some short-term boost to the market. Still, some of the investors have extremely doubt about the long-term investment on bitcoin. George Soros is a controversial figure for some reasons, but rarely when it comes to investment.
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