London Daily

Focus on the big picture.
Friday, Oct 24, 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
Microsoft AI CEO: ‘We’re making an AI that you can trust your kids to use’ — but can Microsoft rebuild its own trust before fixing the industry’s?
China and Russia Deploy Seductive Espionage Networks to Infiltrate U.S. Tech Sector
Apple’s ‘iPhone Air’ Collapses After One Month — Another Major Misstep for the Tech Giant
Graham Potter Begins New Chapter as Sweden Head Coach on Short-Term Deal
Ecuadorian President Daniel Noboa Alleges Poison Plot via Chocolate and Jam
Lakestar to Halt External Fundraising as Investor in Revolut and Spotify
U.S. Innovation Ranking Under Scrutiny as China Leads Output Outputs but Ranks 10th
Three Men Arrested in London on Suspicion of Spying for Russia
Porsche Reverses EV Strategy as New CEO Bets on Petrol and Hybrids
Singapore’s Prime Minister Warns of ‘Messy’ Transition to Post-American Global Order
Andreessen Horowitz Sets Sights on Ten-Billion-Dollar Fund for Tech Surge
US Administration Under President Donald Trump Reportedly Lifts Ban on Ukraine’s Use of Storm Shadow Missiles Against Russia
‘Frightening’ First Night in Prison for Sarkozy: Inmates Riot and Shout ‘Little Nicolas’
White House Announces No Imminent Summit Between Trump and Putin
US and Qatar Warn EU of Trade and Energy Risks from Tough Climate Regulation
Apple Challenges EU Digital Markets Act Crackdown in Landmark Court Battle
Nicolas Sarkozy begins five-year prison term at La Santé in Paris
Japan stocks surge to record as Sanae Takaichi becomes Prime Minister
This Is How the 'Heist of the Century' Was Carried Out at the Louvre in Seven Minutes: France Humiliated as Crown with 2,000 Diamonds Vanishes
China Warns UK of ‘Consequences’ After Delay to London Embassy Approval
France’s Wealthy Shift Billions to Luxembourg and Switzerland Amid Tax and Political Turmoil
"Sniper Position": Observation Post Targeting 'Air Force One' Found Before Trump’s Arrival in Florida
Shouting Match at the White House: 'Trump Cursed, Threw Maps, and Told Zelensky – "Putin Will Destroy You"'
Windows’ Own ‘Siri’ Has Arrived: You Can Now Talk to Your Computer
Thailand and Singapore Investigate Cambodian-Based Prince Group as U.S. and U.K. Sanctions Unfold
‘No Kings’ Protests Inflate Numbers — But History Shows Nations Collapse Without Strong Executive Power
Chinese Tech Giants Halt Stablecoin Launches After Beijing’s Regulatory Intervention
Manhattan Jury Holds BNP Paribas Liable for Enabling Sudanese Government Abuses
Trump Orders Immediate Release of Former Congressman George Santos After Commuting Prison Sentence
S&P Downgrades France’s Credit Rating, Citing Soaring Debt and Political Instability
Ofcom Rules BBC’s Gaza Documentary ‘Materially Misleading’ Over Narrator’s Hamas Ties
Diane Keaton’s Cause of Death Revealed as Pneumonia, Family Confirms
Former Lostprophets Frontman Ian Watkins Stabbed to Death in British Prison
"The Tsunami Is Coming, and It’s Massive": The World’s Richest Man Unveils a New AI Vision
Outsider, Heroine, Trailblazer: Diane Keaton Was Always a Little Strange — and Forever One of a Kind
Dramatic Development in the Death of 'Mango' Founder: Billionaire's Son Suspected of Murder
Two Years of Darkness: The Harrowing Testimonies of Israeli Hostages Emerging From Gaza Captivity
EU Moves to Use Frozen Russian Assets to Buy U.S. Weapons for Ukraine
Europe Emerges as the Biggest Casualty in U.S.-China Rare Earth Rivalry
HSBC Confronts Strategic Crossroads as NAB Seeks Only Retail Arm in Australia Exit
U.S. Chamber Sues Trump Over $100,000 H-1B Visa Fee
Shenzhen Expo Spotlights China’s Quantum Step in Semiconductor Self-Reliance
China Accelerates to the Forefront in Global Nuclear Fusion Race
Yachts, Private Jets, and a Picasso Painting: Exposed as 'One of the Largest Frauds in History'
Australia’s Wedgetail Spies Aid NATO Response as Russian MiGs Breach Estonian Airspace
McGowan Urges Chalmers to Cut Spending Over Tax Hike to Close $20 Billion Budget Gap
Victoria Orders Review of Transgender Prison Placement Amid Safety Concerns for Female Inmates
U.S. Treasury Mobilises New $20 Billion Debt Facility to Stabilise Argentina
French Business Leaders Decry Budget as Macron’s Pro-Enterprise Promise Undermined
Trump Claims Modi Pledged India Would End Russian Oil Imports Amid U.S. Tariff Pressure
×