Soros Fund Management trades Bitcoin – sources

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Dawn Fitzpatrick said in March that crypto was at “an inflection point.”

A premonitory comment, in fact. Fitzpatrick, chief investment officer at Soros Fund Management, has given the internal green light in recent weeks to actively trade Bitcoin and possibly other cryptocurrencies, according to two people familiar with the matter.

The sources were granted anonymity to freely discuss sensitive business matters. A spokesperson for Soros, the family investment operation of legendary global macro investor George Soros, declined to comment.

It’s unclear who at Soros, who has a team of investment professionals and oversees north of $ 20 billion in assets under management, oversees the store’s crypto trading activities. The indications are that Fitzpatrick has had conversations with investment counterparts outside of his operation to bring in a new person to handle the company’s emerging crypto strategies.

Fitzpatrick has “done more than just kick the tires” on crypto, one of the sources said, adding that she had been exploring space for a long time before stepping up trading in digital assets.

She has also been involved in conversations regarding Soros taking private stakes in companies focused on blockchain technology. Soros, in particular, took a stake in NYDIG, alongside companies such as Morgan Stanley. Soros has also invested in data provider Lukka, Forbes reported.

Soros employs an in-house investment team to manage a wide range of strategies, from stocks and debt to commodities. In addition, the company takes VC and PE type stakes in companies and purchases limited partnership stakes in promising emerging and established hedge fund managers.

According to one of the sources in this story, it is rumored that Fitzpatrick is also in the early stages of due diligence on a number of liquid crypto hedge fund strategies.

Dawn Fitzpatrick said in March that crypto was at “an inflection point.”

A premonitory comment, in fact. Fitzpatrick, chief investment officer at Soros Fund Management, has given the internal green light in recent weeks to actively trade Bitcoin and possibly other cryptocurrencies, according to two people familiar with the matter. Subscribe for the full article

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