George Soros Prepares to Trade Cryptocurrencies

[felixesteban]

I am not sure whether this is a good news or not Probably Soros is the most evil and dangerous person in the world. At some point if he comes here, The market volume will increase but on the other hand when we think about his capabilities, Should we be afraid of this person? Beacuse this guy is famous for crashing markets by shorting currencies. What do you guys think?


''Billionaire octogenarian George Soros is reportedly taking an interest in cryptocurrency trading. If true, the move would be a remarkable turnaround for the business magnate, who’s previously been scathing of bitcoin, calling it a bubble and a tool of dictators.

Soros Eyes an Entry into the Crypto Markets

87-year-old George Soros’ best years may be behind him, but the tycoon still knows an opportunity for profit when he sees it. Crypto assets have traditionally been met with scepticism by senior investment figures such as George Soros and Warren Buffet, whose investment prowess is streets ahead of their tech knowledge. Fortunately, an innate understanding of blockchain technology is not required to participate in the crypto markets: simply the ability to calculate risk and reward. Bloomberg reports that George Soros is now pondering an entry into the cryptocurrency space.

Soros Fund Management, his family investment firm, has $26 billion in assets and is believed to have earmarked some of that capital for crypto. Bloomberg claims that Adam Fisher, an investor at Soros Fund Management, has received the go-ahead to trade virtual currencies. Should this prove to be the case, it would make sense for Soros to enter now that the markets have cooled off, having dropped three-fold from their December peak.

Read more:
https://news.bitcoin.com/george-soros-is-rumored-to-be-investing-in-cryptocurrency/

[Pampit]

Yeah I don't get why everyone is cheering his entry into crypto, that guy has made his fortunes by shorting currencies. He finds fundamentally weak markets and makes bank shorting them.
When he makes money nearly everyone else loses from what I've read on him.

[PierreCB]

Excellent contribution and review about one of the most recognized traders in the world. You will probably need to hold a conference, some total work in which you focus on how a better proposal for tradings can be shown and provide confidence in the administration of cryptocurrencies

[hosseinimr93]

I don't know whether it is a good news or not. If George Soros enter to the cryptocurrencies market, it can cause the price to rise in short-term. But he can be a whales in this market and it's not good. A day he will cash out all the cryptocurrencies for fiat.

[cryptothief]

This is the main problem with any traditional finance investment companies entering into the cryptocurrency markets, their ability to turn it on it's head. The amount of money they can inject into the market gives them too much control at the current levels, especially with smaller marketcap currencies. That said, it is an inevitable result of success, and an indication that the next stage of the markets is coming soon. Could also speed up the rejection of poor projects and put the decent ones on an upward trajectory. Still can't decide, think I would rather they waited in the wings for another couple of years and then join in. The money is coming, but at this point I think it will be a trickle rather than a flood. Let's see.