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$6,000,000,000 Hedge Fund Boss Hints at Bitcoin Holdings, Says Bitcoin Officially Mainstream – The Daily Hodl

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The high govt of a hedge fund owned by famed billionaire George Soros says that Bitcoin (BTC) has turned a vital nook and burst into the mainstream.

In a brand new interview with Bloomberg Live, Soros Fund Management CEO Dawn Fitzpatrick says that each the digital asset market cap and consumer depend are alerts that crypto is normalizing within the public eye.

 

“I’m not sure Bitcoin is only viewed as an inflation hedge here. I think it’s crossed the chasm to mainstream. Cryptocurrencies now have a market cap of over $2 trillion, there’s 200 million users around the world, so I think this has gone mainstream from our perspective.”

Fitzpatrick reveals that the $6,500,000,000 fund owns some Bitcoin, however they’re extra within the use circumstances that crypto supplies, relatively than the cash themselves.

“We own some coins, not a lot, and the coins themselves are less interesting than the use cases of DeFi (decentralized finance) and things like that.”

Earlier this yr, Fitzpatrick stated that Bitcoin is siphoning buyers away from gold, a sentiment just lately shared by Social Capital founder Chamath Palihapitiya.

“I think when you look at gold’s price action in the context of a fairly robust inflation narrative of late, it’s struggled getting traction and I think that’s because Bitcoin is taking some of its buyer base away.”

Bitcoin is exchanging fingers at $54,796 at time of writing, a 9% improve from its 24-hour low, based on CoinGecko.

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Disclaimer: Opinions expressed at The Daily Hodl should not funding recommendation. Investors ought to do their due diligence earlier than making any excessive-threat investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your personal threat, and any loses chances are you’ll incur are your accountability. The Daily Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital property, neither is The Daily Hodl an funding advisor. Please word that The Daily Hodl participates in affiliate internet marketing.

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(This story has not been edited by CryptoNFT | Latest News Live and is revealed from a syndicated feed.)

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