Dawn Fitzpatrick, the CIO of Soros Fund that manages the personal capital of billionaire George Soros—who is famous for his donations to the Democratic Party and promotion of liberal ideas, said in an interview with Bloomberg that the fund owns "some coins" and is looking forward to exploring the DeFi industry.
The Soros fund manager has said that it began making a profit in March 2020, right when the market crash due to the pandemic happened. But at the same time, the fund is interested in buying recovery stocks that are still too cheap. The main reason is the abundance of cash in the U.S. economic system.
While Soros fund is getting more crypto, it is certainly moving away from investing in the Chinese economy. Previously, Soros himself said that the Chinese government is acting irrational, and investors cannot feel safe while investing in the country's economy.
In terms of crypto, Fitzpatrick said that the fund is more interested in technology and solutions that decentralized technologies bring to the table rather than cryptocurrencies themselves.
Institutional investors are progressively moving into the digital assets industry while discovering some convenient investment opportunities like decentralized finances or token offerings—which usually offer more returns than traditional assets.