Billionaire Who Called Bitcoin a Bubble Started Trading Bitcoin!

The billionaire, who called Bitcoin a bubble, started trading Bitcoin. George Soros has joined the ranks of Bitcoin investors.

Surprising news came from the front of hedge fund giant George Soros. It was reported that Soros was recorded as the latest billionaire to join the Bitcoin frenzy.

George Soros Started Trading Bitcoin

According to State Street, Soros Fund Management received approval from CIO Dawn Fitzpatrick to begin cryptocurrency trading this June. According to the financial institution's report, the family office does not only operate on digital assets. That means there's a pretty big bet.

Soros Previously Said That Bitcoin Is A Bubble

In January 2018, the well-known investor described Bitcoin as a "typical bubble". Soros' words came incidentally when the market reached the top of the previous bull run. One of Soros' most ambitious investment principles is to put money in bubbles in its early stages, which he believes is not unreasonable. He describes the situation as follows: "When I see a bubble forming, I rush to buy it by adding fuel to the fire."

Who is George Soros?

George Soros is a Hungarian-American billionaire investor and philanthropist. As of March 2021, it has donated more than $32 billion to Open Society Foundations. It is known that he has a net worth of 8.6 billion US dollars. According to Forbes, his distribution of $15 billion, representing 64% of his original wealth, places him in the position of "the most generous donor" (in terms of net worth percentage).