London Daily

Focus on the big picture.
Wednesday, Jul 30, 2025

Speculator meets speculation: George Soros’ Investment Fund Has Reportedly Started Trading Bitcoin

Speculator meets speculation: George Soros’ Investment Fund Has Reportedly Started Trading Bitcoin

The investment fund of billionaire George Soros, otherwise known as the man who “broke the Bank of England,” has reportedly started trading Bitcoin.
Speculation that the storied investor’s firm has waded into cryptocurrencies stemmed from a report on TheStreet.com, citing two sources who said Soros Fund Management’s chief investment officer Dawn Fitzpatrick had given “the internal green light to actively trade Bitcoin.” The firm is also looking at other digital currencies, the report said.

Fitzpatrick told Bloomberg in a March interview that the company had been investing in cryptocurrency infrastructure companies—exchanges, asset managers and custodians. She said it was a “really important moment in time” for cryptos and Bitcoin could have stayed a “fringe asset,” except for the fact money supply had surged by over 25% in the last 12 months.

“So there’s a real fear of debasing of fiat currencies, and when you think about Bitcoin, I don’t think it’s a currency, I think it’s a commodity and it’s a commodity that’s easily storable, it’s easily transferable, the IRS [Internal Revenue Service] classifies it as a physical asset, it has a finite amount of supply and that supply is halved every four years, so I think it’s interesting,” said Fitzpatrick.

The No. 1 cryptocurrency was trading at $33,523 on Thursday, a drop of 3%. After a strong start to the year and reaching an all-time high of around $65,000 in April, the just-finished second quarter was set to be the worst on record for both Bitcoin and Ethereum, thanks in part to a crackdown in China.

Soros Fund Management also got a green light to trade digital assets in April 2018, reported Bloomberg, which cited sources. In January of that year, Soros himself told the World Economic Forum that Bitcoin and other digital coins couldn’t function as a currency due to volatility. Bitcoin began trading that year at $13,535, and ended at $3,721.

As for what any fresh move by Soros’ firm might mean, one analyst said it was tough to interpret.


“Any big hitters in the mix is initially considered great for the adoption story, especially if it is a vehicle to reduce portfolio variance through the low correlation effect,” said Chris Weston, head of research at Melbourne-based broker Pepperstone, in emailed comments.

The report merely said the firm has “cleared to trade this,” said Weston. So “without actually knowing much about what they plan to do they could be lumping into short positions in futures—if they take a view that liquidity beneficiaries are going to take a hit as the Fed’s balance sheet starts to grow at far slower pace and the front end of the yield curve lifts, maybe being short crypto isn’t such a bad play …”

Soros became famous for heavily shorting the pound in 1992 during the Black Wednesday crisis, and ultimately forcing the Bank of England to abandon the European Exchange Rate Mechanism. He made a $1 billion profit on that move.

TheStreet.com also reported that hedge fund Point72 Asset Management was on the hunt for a “head of crypto,” citing sources. Attempts to contact both Soros Fund Management and Point72 were made by this publication.

This story is developing and will be updated.
Newsletter

Related Articles

0:00
0:00
Close
Former Judge Charged After Drunk Driving Crash Kills Comedian in Brazil
Jeff Bezos hasn’t paid a dollar in taxes for decades. He makes billions and pays $0 in taxes, LEGALLY
China Increases Use of Exit Bans Amid Rising U.S. Tensions
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Procter & Gamble to Raise U.S. Prices to Offset One‑Billion‑Dollar Tariff Cost
House Republicans Move to Defund OECD Over Global Tax Dispute
Botswana Seeks Controlling Stake in De Beers as Anglo American Prepares Exit
Trump Administration Proposes Repeal of Obama‑Era Endangerment Finding, Dismantling Regulatory Basis for CO₂ Emissions Limits
France Opens Criminal Investigation into X Over Algorithm Manipulation Allegations
A family has been arrested in the UK for displaying the British flag
Mel Gibson refuses to work with Robert De Niro, saying, "Keep that woke clown away from me."
Trump Steamrolls EU in Landmark Trade Win: US–EU Trade Deal Imposes 15% Tariff on European Imports
ChatGPT CEO Sam Altman says people share personal info with ChatGPT but don’t know chats can be used as court evidence in legal cases.
The British propaganda channel BBC News lies again.
Deputy attorney general's second day of meeting with Ghislaine Maxwell has concluded
Controversial March in Switzerland Features Men Dressed in Nazi Uniforms
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
Thai Civilian Death Toll Rises to 12 in Cambodian Cross-Border Attacks
TSUNAMI: Trump Just Crossed the Rubicon—And There’s No Turning Back
Over 120 Criminal Cases Dismissed in Boston Amid Public Defender Shortage
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
The Podcaster Who Accidentally Revealed He Earns Over $10 Million a Year
Trump Announces $550 Billion Japanese Investment and New Trade Agreements with Indonesia and the Philippines
US Treasury Secretary Calls for Institutional Review of Federal Reserve Amid AI‑Driven Growth Expectations
UK Government Considers Dropping Demand for Apple Encryption Backdoor
Severe Flooding in South Korea Claims Lives Amid Ongoing Rescue Operations
Japanese Man Discovers Family Connection Through DNA Testing After Decades of Separation
Russia Signals Openness to Ukraine Peace Talks Amid Escalating Drone Warfare
Switzerland Implements Ban on Mammography Screening
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
Pogacar Extends Dominance with Stage Fifteen Triumph at Tour de France
CEO Resigns Amid Controversy Over Relationship with HR Executive
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
NVIDIA Achieves $4 Trillion Valuation Amid AI Demand
US Revokes Visas of Brazilian Corrupted Judges Amid Fake Bolsonaro Investigation
U.S. Congress Approves Rescissions Act Cutting Federal Funding for NPR and PBS
North Korea Restricts Foreign Tourist Access to New Seaside Resort
Brazil's Supreme Court Imposes Radical Restrictions on Former President Bolsonaro
Centrist Criticism of von der Leyen Resurfaces as she Survives EU Confidence Vote
Judge Criticizes DOJ Over Secrecy in Dropping Charges Against Gang Leader
Apple Closes $16.5 Billion Tax Dispute With Ireland
Von der Leyen Faces Setback Over €2 Trillion EU Budget Proposal
UK and Germany Collaborate on Global Military Equipment Sales
Trump Plans Over 10% Tariffs on African and Caribbean Nations
Flying Taxi CEO Reclaims Billionaire Status After Stock Surge
Epstein Files Deepen Republican Party Divide
Zuckerberg Faces $8 Billion Privacy Lawsuit From Meta Shareholders
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
SpaceX Nears $400 Billion Valuation With New Share Sale
×