George Soros, who once openly criticized Bitcoin, had a net worth of about $8 billion in 2018
Hedge fund titan George Soros has become the latest billionaire to join Bitcoin’s golden rush. According to State Street, which cites people familiar with the matter, Soros Fund Management received internal approval from CIO Dawn Fitzpatrick to begin trading cryptocurrencies in June.
According to the financial sector report, the family office is not falling headlong into digital assets by chance, which implies a big gamble.
In January 2018, the legendary investor called Bitcoin “a typical bubble”. His words coincidentally came right when the market hit the top of its previous bull run.
One of Soros’s boldest investment principles is to put money in bubbles during its early stages, which he believes is not irrational:
“When I see a bubble forming, I run to buy it, putting fuel on the fire.”
Soros gained fame when he bought gold in early 2010, when he was in the midst of a big rally, exiting before the bubble burst.