CIO of Soros Fund Management Speaks about BTC and the Possibility of Investing in the Crypto Market

Dawn Fitzpatrick, the CIO of Soros Fund Management was recently in an interview with Eric Schatzker on the Front Row Show on Bloomberg, where a number of things centered around crypto were discussed.

Fitzpatrick spoke to Schatzker, saying that their thought is that the whole structure in the crypto space is fascinating, they have been investing in the space and structure, and they seem at the turning point. As a person, she said that she would say it is everything from the mundane to the custodians, like getting a tax report for your crypto gains and everything in the space.

Talking about crypto generally, she posited that they are currently at a very crucial moment in such a way that assets like BTC might have to remain abstract from the mainstream, but considering that in the past 12 months, their supply of money in the United States has increased by 25%.

So, when you think of Bitcoin, there is this inherent fear of fiat currencies losing their value. But she said that she think of BTC as a commodity that can be stored easily and as well transferrable. The IRS (Internal Revenue Service) placed it in the physical asset category. It is to be noted that it has a limited supply.

Schatzker, however, asked if Soros fund management has any bitcoin, but laughter was the first response from her, and then she said she would not answer that question. Schatzker then tagged the response as a “mysterious response.”

Fitzpatrick, however, added that one thing with the thought of BTC is that digital currencies of individual central banks will be here much quicker than people expect. For a while now, China has been trying theirs out. And for some quite strategic reasons, she said that they are poised to become the first creator of a digital currency, and from a geopolitical perspective, there is an intention to make it acceptable across the world, which will become a real threat to BTC and other cryptos.

On the impact of China’s digital currency on BTC, she said that the threat is going to come strong, but it’s going to be a bluff. She said that she doesn’t think the destabilization of Bitcoin can be permanent.

In response to this interview, Pal Raoul then commented on Twitter that “it is clear Soros Fund Management is involved in BTC now.”