Dawn Fitzpatrick, the CIO of Soros Fund Management, opined that the investment fund manager finds the infrastructure across crypto to be “really interesting.” Nevertheless, she also cautioned that the future launch of CBDCs could harm the first-ever cryptocurrency in the short-term. Dawn Fitzpatrick believes that Bitcoin is at an inflection point since it has its asset management custodians and a form to report crypto profits for tax purposes. She further details that Bitcoin is now being taken thoughtfully by Wall Street and government authorities.
Established in 1969 by Georgi Soros, Soros Fund Management is a privately owned hedge fund sponsor funding in public equity and fixed income markets. Currently, the organization’s CIO conversed regarding the developing cryptocurrency space in a Bloomberg interview. Fitzpatrick admitted that the fund has invested in crypto exchanges, asset managers, and custodians, among other ecosystem aspects.
Soros’ Fund Management CIO considers Bitcoin as Commodity
Dawn Fitzpatrick believes Bitcoin to be a commodity rather than a currency, but easy to transfer and store. She also briefs that gold does not appear to be the inflation hedge it once was related to Bitcoin. Fitzpatrick discussed the indolent gold market of late, declaring that Bitcoin may be behind the low volume in gold. When questioned if she held Bitcoin, she declined to reveal whether she retains any BTC.
According to the Soros CIO, CBDCs (central bank digital currencies) will launch earlier than anticipated. Moreover, officials will implement the CBDCs into the economy. She thinks that the world’s most populated country would inflict its CBDC on other nations owing to geopolitical factors. Fitzpatrick observes China’s CBDC as a substantial threat to Bitcoin. However, she said that the threat is temporary. She further contends that it will not supersede in destabilizing Bitcoin permanently.
However, Soros Fund Management earlier had a somewhat controversial approach towards the leading crypto. The founder called Bitcoin a typical bubble in mid-2018; however, the organizations began trading Bitcoin and other crypto-assets just a few weeks later. With Soros CIO talking positively about Bitcoin, we await to see Soros’ future ventures in the crypto space.
Follow BitcoinWorld for the latest updates.
