Soros fund CEO says crypto is here to stay
Image Source: Barclays

Soros fund CEO says crypto is here to stay and recession is unavoidable

Recently, the Soros fund CEO, Dawn Fitzpatrick, said that crypto is here to stay and has already become mainstream. She also shared her opinion on the looming US recession that is ‘inevitable’ according to her. Soros Fund Management, LLC is a private investment management firm based in the United States. George Soros founded the firm in 1970, and it was estimated in 2010 to be one of the most profitable hedge fund firms in the industry, with an average annual rate of return of 20% over four decades. Its headquarters are located at 250 West 55th Street in Manhattan.

Dawn Fitzpatrick on crypto

She showed her belief in the crypto industry and exclaimed that it is not going anywhere. David Rubenstein recently interviewed Dawn on Bloomberg, where she was asked about her views on crypto and opinion on allowing Bitcoin to be a part of the 401k retirement accounts. That’s when she said that it has already become mainstream and is not going anywhere.

Soros fund CEO says crypto is here to stay
Image Source: Barclays

Dawn did point out that one problem with crypto is the increasing climatic impact. Therefore, Ethereum might become more attractive than Bitcoin in the future. She also said that blockchain is going to have some ‘great applications.’ It is difficult to agree or disagree with the climate point. However, it’s good to see that the CEO of one of the most profitable firms on the planet is optimistic about crypto.

US recession

The economy of the United States is not in a very good state right now, and a recession is looming over the head. Elon must belives that we are already in a recession, while some think we will soon be in one. Dawn Fitzpatrick opinioned that if you look at the GDP, it suggests that a lot of goods have been imported because of the net negative number. This shows that consumer and corporate demand is high.

Then she also talked about recession and said the bottom line is it is unavoidable. However, she doesn’t think that we are already in one and it will take more time than many expect. It might be because the Feds have started to act, and fast interest rate hikes could soon be happening.

What are your thoughts as Soros fund CEO says crypto is here to stay? And do you agree with Dawn that recession will happen far out in the future, or are we already in one? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.

Also Read: Income levels significantly affect how someone perceives Bitcoin: Report.