Soros Fund Management, founded by billionaire investor and George Soros, revealed that it owns the cryptocurrency bitcoin.
“We own some coins – not a lot. The coins themselves are less interesting than the use cases of DeFi and things like that.” CEO Dawn Fitzpatrick said during an interview.
Soros Fund Management is renowned for making large profits on traditional currency investments has been looking at investment in cryptocurrencies since 2018.
Fitzpatrick, who is also chief investment officer at Soros, said, “I’m not sure bitcoin is only viewed as an inflation hedge here. “I think it’s crossed the chasm to the mainstream.”
He also explained how cryptocurrencies have a market value of more than $2 trillion, with over 200 million users.
Bitcoin has leaped 10% to over $55,000 on Wednesday, it was trading at $54,726 at roughly 4 a.m. ET on Thursday.