The CEO and CIO of Soros Fund Management, Dawn Fitzpatrick, has stated that cryptocurrencies are here to stay, and that they have now already become mainstream.
CEO of Soros Fund Management says cryptocurrencies still have a long way to go
He did so during an interview with Bloomberg in which he cited Fidelity’s commitment to the sector as a sign of their entry into the mainstream.
He also revealed that he believes Ethereum can be even more attractive than Bitcoin due to its use beyond that of a digital currency.
In fact, he admitted that Soros Fund Management is interested in several companies operating in the blockchain sector, because they believe that this technology will have many great applications in the future.
Soros Fund Management is a famous American investment management company, founded in 1970 by George Soros. It is based in New York, and is currently headed by Dawn Fitzpatrick.
The company is famous for, among other things, advising a private investment fund in 2016 to finance solar panel manufacturer SolarCity with $305 million, thus enabling Elon Musk to buy SolarCity and merge it with Tesla.
In addition, in 2020 it bought 1% of Palantir Technologies, Peter Thiel‘s company focused on big data analysis.
This is therefore a fund that often invests in technology, so it is not strange that it is also interested in blockchain.
George Soros himself is famous for having intervened several times in the currency markets with sometimes reckless speculations, so it is also not particularly strange that the fund he founded is interested in cryptocurrencies.
How the fund intends to participate in the cryptocurrency market
Certainly, however, many Bitcoin purists and maximalists would object if Soros Fund Management were to become a major player in the crypto markets.
It is worth pointing out that by now cryptocurrencies have indeed become mainstream, hence also on the traditional financial markets dominated by companies such as that of Soros.
In this sense, it was simply inevitable that sooner or later Soros Fund Management would also end up getting involved in the crypto and blockchain sector, although for now it seems that their interest is mainly focused on blockchain companies, rather than cryptocurrencies.
On the other hand, after Fidelity‘s grand entrance into the sector, cryptocurrencies have been fully and definitively cleared through customs on the traditional financial markets, so much so that it now seems stranger when some companies choose to stay away from them as opposed to the other way around.
Moreover, since Soros Fund Management is interested in technology in general, and does not disdain dealing with companies run by people such as Elon Musk or Peter Thiel, it seems almost a foregone conclusion that sooner or later they too would start to take an interest in the blockchain and crypto world.