Hedge fund titan George Soros has reportedly become the latest billionaire to join the Bitcoin gold rush.
According to State Street, which cites people familiar with the matter, Soros Fund Management has received internal approval from CIO Dawn Fitzpatrick to start trading cryptocurrencies this June.
As per the financial outlet's report, the family office is not just kicking the tires on digital assets, which implies a big bet.
Alex DovbnyaIn January 2018, the legendary investor called Bitcoin “a typical bubble.” His words coincidentally came right when the market reached the top of its previous bull run.
One of Soros’s most daring investing principles is putting money into bubbles during their early stages, which he believes is not irrational:
When I see a bubble forming I rush in to buy, adding fuel to the fire.
Soros famous bought into gold in early 2010 when it was in the middle of a massive rally and then walked away before the bubble burst.
Dan Burgin
Vladislav Sopov