Bitcoin Forum

I don't fear Soros any more than I fear Central Banks. If the Fed or the ECB haven't taken down bitcoin, it's because they couldn't, and Soros won't be able to either. It is another thing if he tries, which he doesn't have to, but every day that passes it is more difficult for someone to try to kill the Bitcoin because it is becoming more and more expensive.

@Kittygalore. However, what is she hiding?

Everyone might begin larping again because of this news after its confirmation. However, before doing this, do the research on who and what George Soros and his trading firms do to the currencies they trade. He will be worse than Elon Musk.



Soros Fund Management has cleared its traders to actively trade bitcoin (BTC, -2.27%), TheStreet reported, citing two people with knowledge of the matter.

The approval to trade the leading cryptocurrency was given by CIO Dawn Fitzpatrick, TheStreet said.

Source https://www.coindesk.com/soros-fund-management-is-said-to-be-trading-bitcoin-report

[Fitzpatrick] But I will say, the one thing also, when you think about bitcoin... Central bank digital currencies are going to be here, I think quicker than people expect.

The misconception here is that most probably people are going to think that Soros is going to "invest" in bitcoin. But what's most likely going to happen is that they're just going to trade it through long/short positions, not necessarily spot. So concerning this news, it could go either way for Bitcoin in terms of being a positive or a negative.

I speculate it will not go either way in being positive or negative. This will go both ways in being positive then negative. Soros and his group will pump and dump bitcoin similar to what they did to the baht, the pound and the yen. The message brought here is to be cautious of this news.

If Soros' fund did go the pump and dump route (which I really wouldn't be surprised), don't you think that would obviously be a huge negative for Bitcoin though?

All the rich people invest in crypto, but they don't talk about it.

It would clearly be a huge negative for the bitcoin market. We should not consider or define bitcoin as the market, however. It still is an open source project. This is why much of the people reckon I fud because of my negative sentiments towards the market. They like to say I antagonize bitcoin. My argument to that is they should be realists and be objective.

He didn't say YES when asked if he owns Bitcoin but he knew substantial information about Bitcoin,

Well now THAT makes a lot more sense.

tldr;

Negative for the Bitcoin markets.
Neutral for the Bitcoin project.

In it's entirety though, with Bitcoin in general, I'm still going to say it's a net negative, at least in the short term. But it's something that's definitely a nothingburger for the mid-long term.

He didn't say YES when asked if he owns Bitcoin but he knew substantial information about Bitcoin, that's enough of a person to think he does own Bitcoin. He probably even have more than thousands of BTC.

But he seems to be betting for Chinese CBDC to be a thread to Bitcoin but this I think because he already has an idea about the dollar or any other fiat currency going to be debased.

The misconception here is that most probably people are going to think that Soros is going to "invest" in bitcoin. But what's most likely going to happen is that they're just going to trade it through long/short positions, not necessarily spot. So concerning this news, it could go either way for Bitcoin in terms of being a positive or a negative.

This might be good news for everyone, however, before we larp about this I will also include news articles about 3 of George Soros’ greatest and best investments. You might not be happy.

Am I too much of a skeptic or should we trust what Dawn Fitzpatrick is telling us in this interview?

[Fitzpatrick] When it comes to crypto generally, we're at a really important moment in time, in that, something like bitcoin might've stayed a fringe asset, but for the fact, over the last 12 months, we've increased money supply in the US by over 25%. So there's a real fear of debasing of fiat currencies. And when you think about bitcoin, I don't think it's a currency, I think it's a commodity, but it's a commodity that's easily store-able, it's easily transferable, the IRS classifies it as a physical asset, it has a finite amount of supply, and that supply halves every 4 years. So I think it's interesting. And I think by the way, when you look at gold 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.

[Bloomberg]: Do you own any bitcoin?

[Fitzpatrick] {pause} {laughs} I'm not gonna answer that.

[Bloomberg] That is what I would call a mysterious response.

[Fitzpatrick] But I will say, the one thing also, when you think about bitcoin... Central bank digital currencies are going to be here, I think quicker than people expect. China's been running their trial for a while now, and I think there are some strategic reasons why they're going to be a first mover. And I do think, from a geo-political perspective, they want that digital currency to be used around the world and it is a potential threat to bitcoin and other cryptocurrencies.

[Bloomberg] I was just going to say, does that legitimize bitcoin, or does that delegitimize bitcoin?

[Fitzpatrick] So I think it is a real threat, but I think it will be temporary. I don't think they'll be successful in permanently destabilizing bitcoin.

Here's how George Soros broke the Bank of Thailand

According to sources who had knowledge of the Quantum Fund’s positioning at the time, Soros bet just under $1 billion of his total war chest of $12 billion against the baht.

How George Soros Broke The British Pound

What did these people do to make so much money?  They bet on the inevitable.  They bet that the pound and the other weaker European currencies were overpriced against the deutsche mark.  They bet that the politicians and the central banks could not much longer maintain artificially high exchange rates in the interests of European unity.

George Soros 'makes $1.2bn betting against yen'

George Soros, the hedge fund billionaire known as "the man who broke the Bank of England" for his $10bn (£6.4bn) bet against the value of the pound in 1992, has reportedly made more than $1.2bn betting against the yen.

There is no good way to short the Bitcoin on such a scale that I know of, as it is such a volatile asset and you would not currently be able to do it to a large enough scale compared to the other currencies that you stated Soros shorted for huge profits. This indicates the Soros is genuinely attracted to Bitcoin as a longer term asset rather than seeking to engineer some shorter term profits out of it, he might very well be experimenting with this new asset class and appreciates it's anti-inflationary characteristics which look very similar to a gold standard. It's really good news if he is buying into it, however these sort of financiers are very cagey about their activity so you won't find out until long after the fact.

Not really sure how we could say he is concern about WW3. The rest in the forum were saying to Zelenskyy to make peace with giving up some region of Ukraine to  finally end the war. Sorros encourages to  crush Putin.  This man is really mad. You would really wonder how this guy can decide what a country would do to deal with their problems. Its a country's internal affairs.

But I think Sorros is betting against Bitcoin since CBDC is coming and is planned to be used widely through the Swift system. He did it against Yen and GBP.