George Soros’ asset management company, Soros Fund Management, owns bitcoin.
ullstein bild Dtl. | Getty Images
Dawn Fitzpatrick, CEO and chief investment officer of the company, revealed during an interview at a Bloomberg event this week that Sorors Fund Management owns “some coins,” but “not a lot.”
“I’m not sure bitcoin is only viewed as an inflation hedge here,” she explained. “I think it’s crossed the chasm to mainstream.”
Fitzpatrick pointed out that cryptocurrencies have a market value of over $2 trillion and over 200 million users.
Bitcoin, which is the most popular cryptocurrency, saw a jump in value on Wednesday. It lept 10% from about $50,000 Tuesday to more than $55,000 Wednesday.
The surge is notable because it came after the Central Bank of China announced it would ban financial institutions, payment and internet companies from facilitating cryptocurrency trading to Chinese investors, affecting Bitcoin’s price, at the end of September.
Stateside, Treasury Secretary Janet Yellen and SEC Chair Gary Gensler have said they have no plans to impose any kind of restrictions on cryptocurrency trading.
Soros’ company is not alone in embracing cryptocurrency. AMC is allowing customers to purchase movie tickets with crypto and Twitter is allowing users to give other content creators tips with Bitcoin.