George Soros Prepares to Trade Cryptocurrencies
Soros called the digital assets a ‘bubble’ in January
George Soros called cryptocurrencies a bubble in January. Now his $26 billion family office is planning to trade digital assets.
Adam Fisher, who oversees macro investing at New York-based Soros Fund Management, got internal approval to trade virtual coins in the last few months, though he has yet to make a wager, according to people familiar with the matter. A spokesman declined to comment.
Soros, speaking at the World Economic Forum in Davos, said digital coins cannot function as actual currencies because of their volatility. But he didn’t predict the hard tumble that some observers had forecast at the time.
“As long as you have dictatorships on the rise you will have a different ending, because the rulers in those countries will turn to Bitcoin to build a nest egg abroad,” Soros, 87, said on Jan. 25.
Soros is well know for using his considerable wealth to influence governments and media (18 billion of funding alone to Open Society Foundations, and large enough shareholdings in many media companies to influence reporting).
Coincidence he is ready to buy after crypto price has fallen so much while undergoing a media onslaught?
He manipulated the market to buy something that will make him huge profits.Especially midterm!
hahaha exactly!