We understand that Soros Fund is associated with destructive actions, but it’s one of the biggest investment funds in the world. Such firms consider benefits only. We mean you can look for whatever you want and believe in conspiracy theories. But the truth is that billionaires have a single goal – earn more. For this, they search for new niches, where their billions will turn into more billions in a shorter period of time.
Today, we learned that billionaire George Soros’ investment firm Soros Fund Management has acquired a stake in MicroStrategy, as well as bitcoin miner Marathon Digital and digital asset-friendly Silvergate Bank. The information comes from a 13F filing at the US Securities and Exchange Commission.
According to the document, Soros Fund Management purchased 39.6 million convertible bonds of the Marathon Digital mining firm. They cost $8.9 million as of December 31, 2022. These securities can later be exchanged for the company’s common stock.
The Soros Fund also owns call options and put options on 50,000 shares of analytics software company MicroStrategy, according to the filing. This publicly traded company invests in Bitcoin. As of the end of December, MicroStrategy’s account held 132,500 BTC (~$2.9 billion at the time of writing).
In addition, the investment company has put options in Silvergate Bank for 100,000 shares.
In 2021, the Soros Fund confirmed investments in Bitcoin, but the exact number of coins was not named.
It will be recalled that billionaire Mark Cuban declared the advantages of the first cryptocurrency over gold. He called gold owners “stupid”. In his opinion, this asset cannot protect against inflation.
Interestingly, recently, Robert Kiyosaki said that Bitcoin rate should reach $500,000 soon, while ChatGPT predicted that in the next six months, it will reach $50,000.
We can’t ignore what’s happening in the cryptocurrency industry. Many people believe that Bitcoin and its siblings will replace dollar and gold soon.
