$6,000,000,000 Hedge Fund Boss Hints at Bitcoin Holdings, Says Bitcoin Officially Mainstream

$6,000,000,000 Hedge Fund Boss Hints at Bitcoin Holdings, Says Bitcoin Officially Mainstream

The top executive of a hedge fund owned by famed billionaire George Soros says that Bitcoin (BTC) has turned a crucial corner and burst into the mainstream.

In a new interview with Bloomberg Live, Soros Fund Management CEO Dawn Fitzpatrick says that both the digital asset market cap and user count are signals that crypto is normalizing in the public eye.


Trending: Dr. Stella Immanuel: “The Whole Pandemic Was A TROJAN HORSE For Vaccines – Fauci Is Epitome Of Evil.”

“I’m not sure Bitcoin is only viewed as an inflation hedge here. I think it’s crossed the chasm to mainstream. Cryptocurrencies now have a market cap of over $2 trillion, there’s 200 million users around the world, so I think this has gone mainstream from our perspective.”

Fitzpatrick reveals that the $6,500,000,000 fund owns some Bitcoin, but they are more interested in the use cases that crypto provides, rather than the coins themselves.

“We own some coins, not a lot, and the coins themselves are less interesting than the use cases of DeFi (decentralized finance) and things like that.”

Earlier this year, Fitzpatrick said that Bitcoin is siphoning buyers away from gold, a sentiment recently shared by Social Capital founder Chamath Palihapitiya.

“I think when you look at gold’s price action in the context of a fairly robust inflation narrative of late, it’s struggled getting traction and I think that’s because Bitcoin is taking some of its buyer base away.”

Bitcoin is exchanging hands at $54,796 at time of writing, a 9% increase from its 24-hour low, according to CoinGecko.

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix  

Check Latest News Headlines

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/K_E_N

The post $6,000,000,000 Hedge Fund Boss Hints at Bitcoin Holdings, Says Bitcoin Officially Mainstream appeared first on The Daily Hodl.

Continue reading

You Might Like


Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend