Famous billionaire could become one of the first investors in DeFi industry
Dawn Fitzpatrick, the CIO of Soros Fund that manages the personal capital of billionaire George Soros—who is famous for his donations to the Democratic Party and promotion of liberal ideas, said in an interview with Bloomberg that the fund owns “some coins” and is looking forward to exploring the DeFi industry.
Fund manager Soros said he started making profits in March 2020, just as the stock market crash due to the pandemic struck. But at the same time, the fund is interested in buying recovery stocks that are still too cheap. The main reason is the abundance of liquidity in the American economic system.
While Soros fund is getting more crypto, it is certainly moving away from investing in the Chinese economy. Previously, Soros himself had said that the Chinese government was acting irrationally and investors could not feel secure when investing in the country’s economy.
In terms of crypto, Fitzpatrick said that the fund is more interested in technology and solutions that decentralized technologies bring to the table rather than cryptocurrencies themselves.
Institutional investors are gradually entering the digital asset industry while discovering practical investment opportunities such as decentralized finance or token offerings, which typically offer more returns than traditional assets.
