“Normally when you have a parabolic curve, eventually it has a very sharp break,” Soros said. “But in this case, 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.”George Soros thinks cryptocurrencies are a bubble. He’s about to start trading them anyway.
George Soros vs. the British Pound
The British pound shadowed the German mark leading up to the 1990s, even though the two countries were very different economically. Germany was the stronger country, despite lingering difficulties from reunification, but Britain wanted to keep the value of the pound above 2.7 marks. Attempts to adhere to this standard left Britain with high interest rates and equally high inflation, but it demanded a fixed rate of 2.7 marks to a pound as a condition of entering the European Exchange Rate Mechanism (ERM).
Many speculators, George Soros chief among them, wondered how long fixed exchange rates could fight market forces, and they began to take up short positions against the pound. Soros borrowed heavily to bet more on a drop in the pound. Britain raised its interest rates to double digits to try to attract investors. The government was hoping to alleviate the selling pressure by creating more buying pressure.
Paying out interest costs money, however, and the British government realized that it would lose billions trying to artificially prop up the pound. It withdrew from the ERM and the value of the pound plummeted against the mark. Soros made at least $1 billion off this one trade. For the British government's part, the devaluation of the pound actually helped, as it forced the excess interest and inflation out of the economy, making it an ideal environment for businesses.
https://www.investopedia.com/articles/forex/08/greatest-currency-trades.asp#ixzz5C4ndWNsK
