Saturday, April 07, 2018 4:56:07 PM
According to Bloomberg, citing people familiar with the matter, Adam Fisher, who is responsible for global macroeconomic investing at Soros Fund Management, has already received internal approval for cryptocurrency operations, but he has not started trading yet.
In a speech at the World Economic Forum in Davos on Jan. 25, Soros argued that cryptocurrencies like Bitcoin (BTC) cannot be considered currency due to their volatility, and that their value is speculative:
“Bitcoin is not a currency because a currency is supposed to be a stable store of value and the currency that can fluctuate 25% in a day can’t be used for instance to pay wages because wages drop by 25% in a day. It’s a speculation. Based on a misunderstanding.”
While criticizing the major cryptocurrency in January, the legendary macro trader did not provide any price predictions. Meanwhile, crypto markets have lost almost 50 percent by the end of the first quarter 2018.
Soros became involved in cryptocurrency activity earlier last year. In 2017, George Soros’ investment fund became the third-largest shareholder in Overstock.com, the first major retail company to accept Bitcoin as a payment option.
Launched in 1969, Soros Fund Management made its name in 1992 for its drastic bets against the British pound, which made Soros “The Man Who Broke the Bank of England."
Recent LTCUSD News
- Whales Pump DTX to $2.5M as Bitcoin Spreads Wings to Push Past $60K • ZyCrypto • 09/12/2024 08:48:55 PM
- Litecoin Whales On The Move — Can They Drive LTC Price Back To $75? • NEWSBTC • 09/08/2024 04:00:24 PM
- Shiba Inu Recovery To $0.000081 ATH Levels Still In Play • NEWSBTC • 09/06/2024 04:00:02 PM
- Dogecoin Moving Averages Say Accumulation Has Ended, Here’s Where Price Is Headed Next • NEWSBTC • 09/06/2024 11:30:00 AM
- Litecoin Looks Poised To Explode As Grayscale Buys 10,000 LTC • NEWSBTC • 09/05/2024 09:00:48 PM
- Toncoin (TON) Must Reclaim $4.70 Support Or Face Potential 45% Drop, Analyst • NEWSBTC • 09/05/2024 08:00:28 AM
- Ethereum Slides But Flips Bitcoin In This Key Metric: Time To Load Up? • NEWSBTC • 09/05/2024 05:00:04 AM
- Analyst Says Litecoin Will Outperform Bitcoin And Large Cap Cryptos With 11,000% Breakout • NEWSBTC • 09/04/2024 11:00:02 AM
- Bitcoin is capped at $60K, but LTC, FET, MNT and AAVE show promise • Cointelegraph • 09/01/2024 07:31:17 PM
- Polygon On-Chain Activity Lights Up: MATIC Reversal Incoming? • NEWSBTC • 08/29/2024 06:30:05 PM
- Bitcoin Plummets To $59,000, On-Chain Data Reveals Why • NEWSBTC • 08/28/2024 08:30:38 PM
- Litecoin Sees Sudden Exodus Of Retail Investors: Why This Can Be Bullish • NEWSBTC • 08/28/2024 02:00:55 AM
- Dogecoin Faces Supply Squeeze: What This Means For Price • NEWSBTC • 08/20/2024 05:00:12 PM
- Man allegedly tries to ‘recover’ losses from BitConnect, kidnapping two • Cointelegraph • 08/19/2024 02:10:25 AM
- Litecoin And Dogecoin Whales Move Huge Amounts Amid Whale Activities In The Market • NEWSBTC • 08/18/2024 01:00:46 PM
- BlockDAG, Solana, TRON, Litecoin, & Render Amongst 5 Cryptos to Keep an Eye On in 2024 • ZyCrypto • 08/17/2024 11:52:16 AM
- Litecoin Comeback: Bullish Reversal Sets The Stage For $76.85 Target • NEWSBTC • 08/16/2024 08:30:39 PM
- Polygon Price Risks Plunge With 90 Million MATIC Tokens Selling At $0.5 • NEWSBTC • 08/02/2024 11:00:05 AM
- Litecoin Inches Toward Bollinger Band Buy Signal After 6% Surge • NEWSBTC • 07/29/2024 03:17:02 PM
- Hashdex files S-1 for ETF to hold Bitcoin, Ether and potentially others • Cointelegraph • 07/24/2024 11:58:30 PM
- Mt. Gox Creditors Opt To HODL Bitcoin Rather Than Sell, CryptoQuant Data Shows • NEWSBTC • 07/24/2024 06:00:28 PM
- Litecoin (LTC) Set To ‘Wake Up’, According To Legendary Trader’s Forecast • NEWSBTC • 07/24/2024 02:30:16 PM
- DTX Exchange (DTX) Leads List of Undervalued Cryptos as Whales Sell Worldcoin and Near Protocol • ZyCrypto • 07/20/2024 08:51:00 PM
- Largest XRP Whale Holdings of XRP Ledger Native Token Reach New Record High of $29,561,070,000: Sentiment • The Daily Hodl • 07/20/2024 12:00:22 AM
- Highest ROI Crypto: BlockDAG’s Partnership with Alex Pereira Boosts Presale to $59.5M Amidst Polkadot and Litecoin Price Predictions • ZyCrypto • 07/19/2024 04:23:33 PM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM