Soros Fund Management: Portfolio Restructures With Focus On Crypto

Billionaire George Soros Seems to Be Turning to Cryptocurrencies

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Dawn Fitzpatrick, CIO of Soros Fund Management, which manages $27 billion in assets, speaking to Bloomberg’s Erik Shatzker, said it is restructuring the company’s portfolio and they are starting to focus on cryptos and decentralized economy applications (Dapps).

“We have some cryptos– not many – but the cryptocurrencies themselves are less interesting than the cases of using the decentralized economy,” she said.

– Dawn Fitzpatrick, Soros Fund Management CIO.

New York Digital Investment

Of course, this isn’t the first time Fitzpatrick has talked about cryptocurrencies.

Soros Fund Management was one of many companies behind the $200 million funding of the New York Digital Investment Group, known as the NYDIG.

MassMutual, Morgan Stanley and Stone Ridge Holdings Group also participated in the funding.

At the time, NYDIG co-founder and CEO Robert Gutmann said NYDIG was proof that bitcoin’s institutional adoption was on the rise.

It’s not entirely clear how Soros Fund Management intends to move into Bitcoin, as an investment stake in the digital asset doesn’t necessarily have to be considered bullish, given that Soros earned his reputation for shorting the British pound in 1992.

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