The CEO of Soros Fund Management has confirmed that the family office of billionaire founder George Soros owns cryptocurrency bitcoin, reports an article on CNBC. The fund is renowned for its large profits on traditional currency investments, and CEO Dawn Fitzpatrick did not disclose exactly how much cryptocurrency is owned by the family, further explaining that cryptocurrencies have a market value of over $2 trillion and over 200 million users.
In recent days, bitcoin has rallied, jumping about 10% despite the persistent threat of regulatory crackdowns from governments across the globe, as well as misgivings about its large environmental footprint. However, in the U.S. both the Treasury Secretary Janet Yellen and SEC Chair Gary Gensler have said they do not plan to impose restrictions on cryptocurrency trading, the article continues.
Bitcoin isn’t rallying alone. Ether’s price has tripled this year so far, jumping from $1000 to $3000. But many professional investors see bitcoin as just another bubble. According to a recent survey, 74% of those polled believe bitcoin is on highly speculative ground.