The best years of George Soros, 87, may be behind him, but the tycoon still knows a chance to make a profit when he sees it.
Encryption assets have traditionally been met with skepticism by important investment figures such as George Soros and Warren Buffet, whose investment prowess is far above their technological knowledge.
Fortunately, an innate understanding of blockchain technology is not required to participate in crypto-markets: simply the ability to calculate risk and reward.Bloomberg reports that George Soros is considering an entry into the cryptocurrency space.
Soros Fund Management, its family investment company, has 26 billion dollars in assets and it is believed that it has allocated part of that capital to invest in cryptography.
Bloomberg says that Adam Fisher, an investor of Soros Fund Management, was approved to market virtual currencies. If this is the case, it would make sense for Soros to enter now that the ecosystem has cooled, having reduced three times since its December peak.
The recent history of Bitcoin is full of public figures who have written about cryptocurrencies, only to then eat their words and claim. Jamie Dimon's stance on Bitcoin has softened considerably, and it seems that George Soros may have seen the light too.
"Bitcoin is currently used mainly for tax evasion and for dictatorships in order to build an egg nest abroad," he said in January. Even if George Soros retains this point of view, it does not prevent him from investing in cryptos for his own purposes, that is, profit.
The cryptocurrency markets fell 41% since Soros expressed his thoughts on Bitcoin for the last time. If your entry is confirmed, it is unlikely to provide any kind of short-term momentum in the market.
However, it adds more weight to the notion that, in the medium and long term, investors are extremely optimistic about Bitcoin. George Soros is a controversial figure for several reasons, but when it comes to investments, he rarely makes a mistake.
Source: news.bitcoin.com
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