How Much Bitcoin Does Billionaire George Soros Have?
Although George Soros once described Bitcoin (BTC) as a “typical bubble”, comparing it to the “tulip mania” that engulfed the Netherlands in the mid-17th century and expressing concerns about its volatility, his views appear to have changed since then that time. Today, his investment company even owns some of the flagship decentralized finance (DeFi).
As it happens, in the summer of 2021, it became public knowledge that Soros Fund Management, the asset management company founded by the billionaire investor and philanthropist, received the green light from its CIO, Dawn Fitzpatrick, to trade “Bitcoin and perhaps other cryptocurrencies”. “, although Soros himself made no comment, as Finbold reported on June 30, 2021.
Supports crypto
However, his support for crypto had become apparent earlier in April 2021, when he joined a $200 million fundraising round for a Bitcoin financial technology company New York Digital Investment Group (NYDIG), as a strategic investor along with MassMutual, FS Investments and Morgan Stanley (NYSE: MS ), among others, is demonstrating an increase in institutional use of Bitcoin.
Recently, Soros’ fund increased its exposure to the crypto industry, as it bought $8,984,659 in convertible notes from crypto miner Marathon Digital Holdings that can be converted into 39.6 million common shares, according to a 13F filing with the United States Securities and Exchange (SEC). dated. to 31 December 2022, and disclosed in February 2023.
On top of that, earlier information revealed that Soros Fund Management also held call and put options on 50,000 shares of enterprise business intelligence (BI) software provider MicroStrategy. This could be the same as holding Bitcoin through a proxy due to the company’s massive crypto purchases, which Hal Press, founder and CEO of the crypto-focused investment fund North Rock Digital strongly criticized.
Although the billionaire’s private crypto holdings are unknown, Alex Jones alleged that he had rejected $5 million in Bitcoin from Soros to pump the digital asset, as he told Joe Rogan on an episode of “The Joe Rogan Experience” in February 2019. If Jones was truthful, and considering the average price in 2018, Soros owned at least 760 BTC at the time, which today would be worth around $23 million.
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