Reports suggest that Soros Fund Management could now trade Bitcoin. It is an American investment management firm that has structured its family office as a hedge fund. They are considered to be one of the most profitable firms with an annual return of over 20% in the last 4 decades. Till now they mainly invested in public equity and fixed income markets. Other areas of focus were commodities, currency, private equity, venture capital funds and foreign exchange. And now Bitcoin is also added to the list.
Soros fund management and Bitcoin
The firm has shown support for Bitcoin even in the post. In April they participated in a funding round from the New York Digital Investment Group, a bitcoin firm. This tied them closely to the crypto space and showed them as an active supporter of Bitcoin. They still haven’t made it particularly clear if the fund is going to trade Bitcoin but it seems that way. Even the CIO of Soros Management when asked about the same declined to answer which is not specifically a no.
Bitcoin to $100k?
Bitcoin is trading at around $34k right now and we are expecting it to reach $100k very soon. Why do I say so? This is because once the FUDs clear, regulatory uncertainties vanish and people start to understand Bitcoin thoroughly, they will buy it. Many well-known personalities and analysts have said that if the $30k price point of Bitcoin holds then we might see $100k very soon. So, I personally think that there is a very high chance of Bitcoin reaching that price point.
Do you think that Soros Fund Management could trade Bitcoin? And if yes how much are they going to buy? Let us know in the comments below. Also, if you found our content informative do like and share it with your friends.