Bitcoin.comCBDCcentral bank digital currenciesdawn fitzpatrickDawn Fitzpatrick bitcoinGeorge Sorosgeorge soros bitcoingoldMarkets and Pricessoros fund managementthreat to bitcoin

Soros CIO: Central Bank Digital Currencies a Real Threat to Crypto but Won’t Permanently Destabilize Bitcoin

Soros Fund Management’s chief investment officer (CIO) says that central bank digital currencies are a potential threat to bitcoin and other cryptocurrencies but it will only be temporary. She also says that bitcoin is taking some of gold’s buyer base away.
Crypto’s ‘Inflection Point’
Soros Fund Management Chief Investment Officer (CIO) Dawn Fitzpatrick talked about bitcoin and the impact central bank digital currencies (CBDCs) could have on the crypto industry in an interview on Bloomberg’s Front Row last week. She said:
We think the whole infrastructure around crypto is really interesting … We’ve been making some investments into that infrastructure and we think that is at an inflection point.
She named some examples of what her firm has been investing in, including exchanges, asset managers, custodians, and tax reporting companies. Earlier this month, Soros Fund Management invested in the New York Digital Investment Group (NYDIG), a provider of technology and investment solutions for bitcoin.
Soros Fund Management has about $27 billion in assets under management. Institutional Investor ranks it the second most successful hedge fund of all time, returning 44% annually since it was formed in 1970 by veteran investors George Soros and Jim Rogers.
Central Bank Digital Currencies: A Temporary Threat to Cryptocurrencies
Fitzpatrick also discussed the potential impact of central bank digital currencies on the crypto market. “Central bank digital currencies are going to be here, I think, quicker than people expect,” she opined, citing China as an example. “There are some strategic reasons why they [China] …
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