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George Soros started to invest in Bitcoin companies

The appreciation of Bitcoin has promoted the expansion of the entire crypto-sphere in recent months. Upon reaching $1 trillion in market value, BTC promoted the other cryptocurrencies.

Wall Street companies, like Tesla and MicroStrategy, decided to allocate investments in this new asset class. Such movement captured the attention of other institutional investors.

Soros Fund Management’s investment director, Dawn Fitzpatrick, told Bloomberg that the company took advantage of Bitcoin’s “tipping point” to invest in companies in the segment. Soros Fund Management envisioned a “tipping point” and bet on companies that operate in the cryptocurrency infrastructure.

The fund recently invested in data provider Lukka and NYDIG. Both companies are focused on services with digital currencies.

For Fitzpatrick, Bitcoin shows a promising high, mainly due to its rapid recovery and the economic stimulus measures of the American government:

“When it comes to cryptocurrencies in general, I think we are at a really important moment. Something like Bitcoin could have remained a marginal asset, had it not been for the fact that we increased the money supply in the United States by 25%.”

While betting on Bitcoin’s profitability, Fitzpatrick highlights a “possible threat” to crypto: the central bank’s digital currencies (CBDCs):

“I think it is a real threat, but I think it will be temporary. I don’t think they will succeed in permanently destabilizing Bitcoin.”

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