Bitcoin is rallying again, and this time it’s in large part to billionaire financier George Soros’ endorsement.
Dawn Fitzpatrick, CEO and chief executive officer of Soros Fund Management, told Bloomberg last week that Soros’ family office owns “some coins, but not a lot.”
The news sent the price of Bitcoin up nearly 10% to around $55,000.
Known as “the man who broke the Bank of England,” Soros bet against the British pound in 1992 and made more than $1 billion. So it’s no surprise that his crypto endorsement was applauded by investors — particularly because he described Bitcoin as a “typical bubble” back in 2018.
“I’m not sure bitcoin is viewed only as an inflation hedge here. It’s crossed the chasm to mainstream,” said Fitzpatrick.
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