Bitcoin is being traded by George Soros’ investment fund

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Soros Fund Management is believed to be in talks to buy blockchain-focused companies in addition to trading cryptocurrency.

According to financial news website TheStreet, George Soros’ private investment business, Soros Fund Management, is trading Bitcoin (BTC) as part of a more extensive digital asset study.

According to people familiar with the situation, Dawn Fitzpatrick, the chief investment officer at Soros Fund Management, given the green light to trade Bitcoin and perhaps other cryptocurrencies in the last few weeks. The individuals, who spoke on the condition of anonymity, said Fitzpatrick and her team had been looking at cryptocurrencies for a while and that their current endeavor is “more than just testing the tires” on digital assets.

TheStreet reached out to a Soros Fund Management spokesman, who declined to comment.

Fitzpatrick is also said to be in talks to buy a private interest in a prominent blockchain-based company. However, the identities of these firms were not revealed. The $200 million investment of New York Digital Investment Group, or NYDIG, was backed by various businesses, including Soros Fund Management. Also present were MassMutual, Morgan Stanley, and Stone Ridge Holdings Group.

Robert Gutmann, co-founder and CEO of NYDIG stated at the time that the funding round demonstrated that institutional use of Bitcoin was on the rise.

TheStreet’s article has already gone viral on Twitter, with several influential business figures entering the conversation.

It’s unclear how, if at all, Soros Fund Management plans to trade Bitcoin. However, given Soros’ record for effectively shattering the Bank of England by shorting the British pound in 1992, investment interest in the digital asset should not be seen as positive.

Despite this, Fitzpatrick has recently expressed support for Bitcoin. In March, she stated that cryptocurrencies such as Bitcoin are reaching a tipping point that might lead to increased acceptance in the future.

“We’ve been making some investment into that infrastructure, and we think that is at an inflection point.”

In March, she told Bloomberg,

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