Bitcoin could have remained a minor asset if not for the pandemic and the ensuing global economic crisis. Dawn Fitzpatrick, chief investment officer of Soros Fund Management, said this in a Bloomberg commentary.
Dawn Fitzpatrick, head of the legendary asset management shop sees an ‘inflection point’ for #Bitcoin and other #cryptocurrencies. The Soros Fund Management CIO, however, gives a mysterious response when asked if she owns any bitcoin.
More on @crypto: https://t.co/YdUELlFmka pic.twitter.com/shG841DxHw
— Bloomberg Crypto (@crypto) March 26, 2021
According to Fitzpatrick, the money supply in the United States has risen by 25% since last year. The current environment is therefore a turning point for Bitcoin.
“This leads to real concerns that money issued by the state will be devalued,” she noted.
For her, the chief investment officer defines Bitcoin not as a currency but as a traded commodity that is easy to store and transfer.
She added that the infrastructure around cryptocurrencies is currently quite interesting, and Soros Fund Management is investing in it.
Earlier in March the Soros family office invested in the crypto-data provider Lukka. In total, the company raised $53 million in a Series D funding round.
Read bitcoin news from ForkLog in our Telegram — crypto news, prices and analysis.