Soros’s appearance among NYDIG’s strategic partners – through the Foundation that bears his name – did not go unnoticed. The famous Hungarian-born businessman had described Bitcoin, in previous years, as “a bubble” and had pointed out that other cryptocurrencies were too.

Dawn Fitzpatrick , the chief investment officer at Soros Fund Management, which manages the prominent billionaire’s personal capital told Bloomberg that after investing $ 5 billion in assets in March 2020 amid market turmoil caused by the coronavirus pandemic , rebuilt the company’s cash buffer, meaning it sold financial instruments, and added that if it were facing a crisis today, the company could put another $ 5 billion to work “in a fairly short time.”

Not that Soros is selling everything. Fitzpatrick said that recovery stocks are still too cheap and should be bought. “These companies have learned to do better and the American consumer is now” full of cash and wants experience, not goods, “said the director of Soros Fund Management.

It should be noted that Bitcoin, the world’s largest cryptocurrency by market value, surpassed the $ 50,000 mark for the first time in four weeks on Tuesday, adding to a series of gains for crypto assets that have accumulated since the beginning of October. In seven days the advance was 20% and, so far this year, it has exceeded 50%.

The cryptocurrency fell below that level on September 7 amid a broader sale of shares of cryptocurrency and blockchain-related companies that took place during that wheel. It continued to decline in September, hitting a low of $ 40,596 on September 21.

Since then, they were all up. On Tuesday, Bitcoin rose as much as 2.35% to hit $ 50,398.10.

Soros and Argentina

The American tycoon has a long history of doing business in Argentina. Since 1989 and for a decade he was an ally of IRSA, a firm that owns the main shopping malls in the country. Likewise, it had participation in agricultural sector firms such as Cresud and Adecoagro.

The billionaire knew how to be his minority shareholder of YPF, the drop in the price of oil made him reduce his participation in the state company in 2016.

Among his latest investments is Ualá, a startup founded and directed by Pierpaolo Barbieri that was born with global funds from the tycoon and recently became the 10th Argentine unicorn. In other words, a private technology-based company that reaches a market valuation of more than 1,000 million dollars.

Born in Budapest, Soros came to London after he had to leave Hungary for the Nazi occupation. There he studied and began his first steps as a businessman. In addition to being known as a philosopher, investor, and financial guru, he is also a philanthropist and donates money through the Open Society Foundations (OSF).