Get All Access for $5/mo

Soros Fund Management Owns Bitcoin Bitcoin, which is the most popular cryptocurrency, saw a jump in value on Wednesday.

By Emily Rella

Opinions expressed by Entrepreneur contributors are their own.

ullstein bild Dtl. | Getty Images

George Soros' asset management company, Soros Fund Management, owns bitcoin.

Dawn Fitzpatrick, CEO and chief investment officer of the company, revealed during an interview at a Bloomberg event this week that Sorors Fund Management owns "some coins," but "not a lot."

"I'm not sure bitcoin is only viewed as an inflation hedge here," she explained. "I think it's crossed the chasm to mainstream."

Fitzpatrick pointed out that cryptocurrencies have a market value of over $2 trillion and over 200 million users.

Bitcoin, which is the most popular cryptocurrency, saw a jump in value on Wednesday. It lept 10% from about $50,000 Tuesday to more than $55,000 Wednesday.

The surge is notable because it came after the Central Bank of China announced it would ban financial institutions, payment and internet companies from facilitating cryptocurrency trading to Chinese investors, affecting Bitcoin's price, at the end of September.

Stateside, Treasury Secretary Janet Yellen and SEC Chair Gary Gensler have said they have no plans to impose any kind of restrictions on cryptocurrency trading.

Soros' company is not alone in embracing cryptocurrency. AMC is allowing customers to purchase movie tickets with crypto and Twitter is allowing users to give other content creators tips with Bitcoin.

Emily Rella

Senior News Writer

Emily Rella is a Senior News Writer at Entrepreneur.com. Previously, she was an editor at Verizon Media. Her coverage spans features, business, lifestyle, tech, entertainment, and lifestyle. She is a 2015 graduate of Boston College and a Ridgefield, CT native. Find her on Twitter at @EmilyKRella.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Side Hustle

This 20-Year-Old Student Started a Side Hustle With $400 — and It Earned $150,000 Over the Summer

Jacob Shaidle launched his barbecue cleaning business Shaidle Cleaning in 2021 when he was just 15.

Business News

Mark Zuckerberg Is Now the World's Second Richest Person, Behind Elon Musk

Meta's CEO jumped ahead of Jeff Bezos in Bloomberg's rankings this week.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Business News

Barbara Corcoran Says This Is the One Question to Ask Before Selling Your Home

Barbara Corcoran sold The Corcoran Group in 2001 for $66 million.

Growing a Business

The Top 5 AI Tools That Can Revolutionize Your Workflow and Boost Productivity

Discover the top 5 AI tools for marketing and content creation that every marketer needs to know.