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Author Topic: [2018-04-07] George Soros Prepares to Trade Cryptocurrencies  (Read 108 times)
Goozzi
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April 07, 2018, 10:29:20 AM
 #1

George Soros called cryptocurrencies a bubble in January. Now his $26 billion family office is planning to trade digital assets.
Adam Fisher, who oversees macro investing at New York-based Soros Fund Management, got internal approval to trade virtual coins in the last few months, though he has yet to make a wager, according to people familiar with the matter. A spokesman declined to comment.
Soros, speaking at the World Economic Forum in Davos, said digital coins cannot function as actual currencies because of their volatility. But he didn’t predict the hard tumble that some observers had forecast at the time.

“As long as you have dictatorships on the rise you will have a different ending, because the rulers in those countries will turn to Bitcoin to build a nest egg abroad,” Soros, 87, said on Jan. 25.

Source: https://www.bloomberg.com/news/articles/2018-04-06/george-soros-prepares-to-trade-cryptocurrencies-as-prices-plunge


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April 07, 2018, 11:53:41 AM
 #2

George Soros is a well known "bear" ,when it comes to trading financial assets.If the news are true and he really starts to trade cryptos, I think that we might witness a bearish market for the next 6 months,or even more.His theory about dictators ,who are going to adopt bitcoin and other cryptocurrencies is a joke.
Most dictators aren`t smart enough to embrace bitcoin and the blockchain technologies.They want only gold and big weapons(for mass destruction) Grin.

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April 07, 2018, 01:02:05 PM
 #3

George Soros is a well known "bear" ,when it comes to trading financial assets.If the news are true and he really starts to trade cryptos, I think that we might witness a bearish market for the next 6 months,or even more.


Yeah, George Soros is a sly old dog who never misses the opportunity to make some money. After doing everything he can to lower the price he will start buying at the low as much as possible in order to gain big profits in the future.

His theory about dictators ,who are going to adopt bitcoin and other cryptocurrencies is a joke.
Most dictators aren`t smart enough to embrace bitcoin and the blockchain technologies.They want only gold and big weapons(for mass destruction) Grin.

It's not true, unfortunately. Apart from the well-known story of Nicolás Maduro's Petro, there's another one about North Korea's approach to crypto currencies. In short, it says that North Korea is in possession of at least 11,000 Bitcoins which can be converted to hard currency any time.

You can read more about that here:

https://www.telegraph.co.uk/news/2018/03/05/north-korea-may-have-made-much-200-million-bitcoin-according/

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April 07, 2018, 02:03:26 PM
 #4

George Soros is a well known "bear" ,when it comes to trading financial assets.If the news are true and he really starts to trade cryptos, I think that we might witness a bearish market for the next 6 months,or even more.His theory about dictators ,who are going to adopt bitcoin and other cryptocurrencies is a joke.
Most dictators aren`t smart enough to embrace bitcoin and the blockchain technologies.They want only gold and big weapons(for mass destruction) Grin.

That bear will have to acquire some cryptos first to be able to profit from them. That's unless he's willing to put his money in one of the hedge funds and hope they'll manage it for him, but I really doubt that a manipulator like him would take the easy way. One thing is certain, there's going to be a huge pump at some point that either sparks a new bubble or ends with a bull trap. It just can't go any other way with so many whales getting attracted to this. First it was Jamie Dimon who was calling it a bubble and then started trading, now Soros...
Also it's worth mentioning that Soros has no ethics. He was one of the people behind the Ukraine crisis.

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April 07, 2018, 02:24:21 PM
 #5

" Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected. " - George Soros

I think he is betting on the unexpected with this investment.  Wink We have to look at the bigger picture here :

1. The SEC has not turned their backs on Bitcoin ETFs

2. The Bitcoin Futures are doing pretty well under the current circumstances.

3. Most of the world economy {stock markets} are due for a huge correction. {Bitcoin is a good store of wealth}

These old guys, still have some fight in them and they are definitely not going down with the ship. {Fiat system}  Wink

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April 07, 2018, 03:23:42 PM
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 #6

Now his $26 billion family office is planning to trade digital assets.

He would not disclose his plans. No big trader would do that.
I think that he has already bought - let's face it, the market in the last months has given him plenty of opportunities - and now he's releasing the news in a hope to push the price upwards.

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April 07, 2018, 03:48:07 PM
 #7

He would not disclose his plans. No big trader would do that.
I think that he has already bought - let's face it, the market in the last months has given him plenty of opportunities - and now he's releasing the news in a hope to push the price upwards.

Correct. Once deep pockets start to talk crap about Bitcoin and crypto in general, it is almost a guarantee that they are accumulating coins, and when they later on show slight glimpses of positivity or willingness, people should know they have what they wanted already. People however shouldn't expect the market to boom in the very short term just because of this, that's not how things go here. It will be a very slow process that later on might pick up in pace, and eventually turn into one crazy bull run. If even these old dust farters enter the market somehow, it will initiate some sort of a domino effect, because if these high level figures start jumping into something, dumb money mostly follows since they see that as a confirming factor.

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April 08, 2018, 10:23:29 AM
 #8

George Soros is a well known "bear" ,when it comes to trading financial assets.If the news are true and he really starts to trade cryptos, I think that we might witness a bearish market for the next 6 months,or even more.His theory about dictators ,who are going to adopt bitcoin and other cryptocurrencies is a joke.
Most dictators aren`t smart enough to embrace bitcoin and the blockchain technologies.They want only gold and big weapons(for mass destruction) Grin.

That bear will have to acquire some cryptos first to be able to profit from them. That's unless he's willing to put his money in one of the hedge funds and hope they'll manage it for him, but I really doubt that a manipulator like him would take the easy way. One thing is certain, there's going to be a huge pump at some point that either sparks a new bubble or ends with a bull trap. It just can't go any other way with so many whales getting attracted to this. First it was Jamie Dimon who was calling it a bubble and then started trading, now Soros...
Also it's worth mentioning that Soros has no ethics. He was one of the people behind the Ukraine crisis.
I doubt that he bought significant amount of bitcoins when they were cheap (that is before August 2017). Soros even called Bitcoin a bubble in early 2018. So he will need to buy bitcoins now, if he wants to trade. So I don't understand why some people are afraid of Soros entering the market.
People seem to really dislike Soros for political reasons, but so far I didn't see any proofs that he was behind Ukraine civil war in Donbass or migrations from the Middle East to Europe in last two years. People just make that up.

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April 08, 2018, 12:20:22 PM
 #9

First it was Jamie Dimon who was calling it a bubble and then started trading, now Soros...
Also it's worth mentioning that Soros has no ethics. He was one of the people behind the Ukraine crisis.

This is why I am seriously apprehensive of this news. Long time non-believers suddenly becoming investors. Either they had a massive change of heart or they are going to make a huge profit from shorting.
If Soros buys cryptocurrencies this is a bad sign. This speculator has a lot of experience. I'm afraid he'll squeeze all the money out of bitcoin and then bring it down. Now you will need to be very careful with this asset. I really want my assumptions to be wrong, but it's better to take precautions.

 
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April 08, 2018, 12:21:03 PM
 #10

People seem to really dislike Soros for political reasons, but so far I didn't see any proofs that he was behind Ukraine civil war in Donbass or migrations from the Middle East to Europe in last two years. People just make that up.
It shouldn't even matter in this specific case. In all fairness, everyone is free to enter and leave this market at any time. People quite often get quickly upset about these things when crypto is somehow involved.

Maduro is one entity being actually responsible for crimes against humanity, and I hear very little about it in the media. The only thing I see them do is praise that scam circus because it raised more than $5 billion.

It's impossible to verify how much has actually been raised. I wouldn't be surprised if it ends up being 50% below that figure in reality. One must be a sickfuck to invest in something like that.

Exchanges in this market should do everything to keep that token outside.

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April 08, 2018, 01:08:48 PM
 #11

George  Soros is the worst that can happen to a country,period
when his henchmen are getting their hands on the countrie's markets,usually a developping economy
consider that country doomed,the only country that managed to survive his evil clutches is Russia
he will trade and make money on any thing that moves,destroying nations in the process,buying out resources for papers he himeslf lending to that country
want to know more-read Confessions of an Economic Hit Man by John Perkins
as for the cryptocurrencies trading,of course he cannot pass the opportunity
if it means profit,nothing will stop his funds

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TrumpD
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April 08, 2018, 01:32:59 PM
 #12

If this story is true, then it just proves that most of the "bulls of wall street", who started the targeted campaign against crytpocurrencies in January this year, where clearly doing so to make the prices fall terribly, which is what has been happening since then - so that they (the stupidly wealthy) can purchase in large volumes and control the market, just like the way they have been doing with actual stock markets on Wall Street. That is why I was really sad when people where selling out of panic, it was a clear strategy from the rich and wealthy. And now the rich and wealthy are the ones who control the government, for their personal private gains.
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April 08, 2018, 02:40:04 PM
 #13

There’s no sign of high market reaction with this news. By the way it’s  my 3rd day hearing and replying about George Soros investing in crypto, but it only shows few positive reaction as this man has negative reputation as a businessman and as an investor. If this propaganda will result in a bullish run for crypto then that’s good, but won’t be a great reason to celebrate.
figmentofmyass
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April 08, 2018, 07:06:12 PM
 #14

I doubt that he bought significant amount of bitcoins when they were cheap (that is before August 2017). Soros even called Bitcoin a bubble in early 2018.

not a bad call, considering we dumped like 70% from the top in Q1 2018. he certainly knew not to buy the top. Tongue

So he will need to buy bitcoins now, if he wants to trade.

nope. for example, you don't need bitcoin collateral to trade the regulated CBOE and CME futures markets. it's all cash-settled. any instrument offered on traditional brokers will be that way (at least for now). it'll be the same for ETFs if we get them.

There’s no sign of high market reaction with this news. By the way it’s  my 3rd day hearing and replying about George Soros investing in crypto, but it only shows few positive reaction as this man has negative reputation as a businessman and as an investor.

that's because it's non-news. the articles just say they may trade digital currencies and they haven't done anything yet. the news doesn't necessarily imply investment (buying) of crypto. that might be true, but he could also be playing the short side.

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April 14, 2018, 07:12:17 PM
 #15

George Soros is a well known "bear" ,when it comes to trading financial assets.If the news are true and he really starts to trade cryptos, I think that we might witness a bearish market for the next 6 months,or even more.His theory about dictators ,who are going to adopt bitcoin and other cryptocurrencies is a joke.
Most dictators aren`t smart enough to embrace bitcoin and the blockchain technologies.They want only gold and big weapons(for mass destruction) Grin.

That bear will have to acquire some cryptos first to be able to profit from them. That's unless he's willing to put his money in one of the hedge funds and hope they'll manage it for him, but I really doubt that a manipulator like him would take the easy way. One thing is certain, there's going to be a huge pump at some point that either sparks a new bubble or ends with a bull trap. It just can't go any other way with so many whales getting attracted to this. First it was Jamie Dimon who was calling it a bubble and then started trading, now Soros...
Also it's worth mentioning that Soros has no ethics. He was one of the people behind the Ukraine crisis.
I doubt that he bought significant amount of bitcoins when they were cheap (that is before August 2017). Soros even called Bitcoin a bubble in early 2018. So he will need to buy bitcoins now, if he wants to trade. So I don't understand why some people are afraid of Soros entering the market.
People seem to really dislike Soros for political reasons, but so far I didn't see any proofs that he was behind Ukraine civil war in Donbass or migrations from the Middle East to Europe in last two years. People just make that up.

Are you for real? You must've missed the news somehow. People don't like Soros, because he's a manipulator that loves to spread fear and chaos, so that he can later profit from it. He's a wealthy guy that got bored with golf, yachts amd expensive prostitutes, he has other hobbies that include inciting riots and weakening governments.

“Well, I set up a foundation in Ukraine before Ukraine became independent of Russia. And the foundation has been functioning ever since and played an important part in events now,” Soros responded.

It is well-known, although forbidden for the establishment media to mention, that Soros worked closely with USAID, the National Endowment for Democracy (now doing work formerly assigned to the CIA), the International Republican Institute, the National Democratic Institute for International Affairs, the Freedom House, and the Albert Einstein Institute to initiate a series of color revolutions in Eastern Europe and Central Asia following the engineered collapse of the Soviet Union.

“Many of the participants in Kiev’s ‘EuroMaidan’ demonstrations were members of Soros-funded NGOs and/or were trained by the same NGOs in the many workshops and conferences sponsored by Soros’ International Renaissance Foundation (IRF), and his various Open Society institutes and foundations. The IRF, founded and funded by Soros, boasts that it has given ‘more than any other donor organization’ to ‘democratic transformation’ of Ukraine,” writes William F. Jasper.


http://www.hangthebankers.com/george-soros-admits-to-funding-the-ukraine-crisis/
Also: http://theduran.com/leaked-memo-proves-george-soros-ruled-ukraine-in-2014-minutes-from-breakfast-with-us-ambassador-geoffrey-pyatt/

And this one about his work in Poland: https://www.armstrongeconomics.com/world-news/corruption/soros-at-it-again-trying-to-overthrown-polish-government/

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prehisto
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April 14, 2018, 09:00:27 PM
 #16

George Soros is a well known "bear" ,when it comes to trading financial assets.If the news are true and he really starts to trade cryptos, I think that we might witness a bearish market for the next 6 months,or even more.His theory about dictators ,who are going to adopt bitcoin and other cryptocurrencies is a joke.
Most dictators aren`t smart enough to embrace bitcoin and the blockchain technologies.They want only gold and big weapons(for mass destruction) Grin.

I think that this statement about dictators not being smart is very bold and not true.
Dictators more often are very smart , te bottom line is that they want to keep being dictators and they dont achieve that by just sitting on their asses besides that there is North Korea which most definitely are in cryptos since they help bypass sanctions.

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April 17, 2018, 08:09:46 PM
 #17

If Soros is paying attention to crypto... It means that serious entrepreneurs see crypto trades as a way to multiply their money. Awesome
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