Hungarian-American billionaire George Soros’ investment firm, Soros Fund Management, has been rapidly expanding its investments and exposure to cryptocurrency companies, as revealed by filings with the U.S. Securities and Exchange Commission (SEC). For instance, $39.6 million was invested in debentures of Bitcoin miner Marathon Digital Holdings alone!
George Soros Invests In MicroStrategy With A Lot Of Bitcoin On Hand
The quarterly report, Form 13F, uncovered that Soros‘ fund took ownership of call and put options on 50,000 shares of MicroStrategy– a technology company led by Bitcoin enthusiast Michael Saylor which holds thousands of BTC.
Microstrategy’s hefty cryptocurrency investment could have also inspired Soros Fund Management to maintain their roughly $200 million in preferred stock owned by Saylor. These hedging options, which grant the buyer either the right or obligation to purchase or sell a security without any commitment, are part of an extensive strategy for MicroStrategy, as elucidated by a trader on Coindesk.
The fund recently announced the purchase of a “short” position in Silvergate, a cryptocurrency bank. It is unclear if the Soros Fund still holds this stake as the document covers activity until 2022’s end. US regulators are looking into Silvergate and its accounts related to SBF (Sam Bankman-Fried), who created FTX, which has since gone bankrupt. This criminal investigation focuses on the connections between them.
George Soros’s Interest in Bitcoin Is Nothing New
2021 marked a monumental milestone for Soros, as it was confirmed that he has invested in Bitcoin. However, the company’s CEO Dawn Fitzpatrick shared during an interview with the Bloomberg television channel that their focus is on DeFi more than cryptocurrencies. She stated: “We have some cryptocurrencies, not a lot…cryptocurrencies themselves are less interesting than the uses of DeFi and stuff like that.” It looks like DeFi solutions will be leading the way toward greater investment opportunities this year!
According to Fitzpatrick, Bitcoin is more than just an inflation hedge. It has reached a level of mainstream status with over $2 trillion in market capitalization and 200 million users worldwide – making it one of the most popular investments currently available!
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