Bitcoin Has Go Mainstream, Says CEO Soros Fund Management

JAKARTA – Cryptocurrency has attracted the attention of many parties, both institutional and retail investors. Recently, the company owned by billionaire George Soros, Soros Fund Management, reportedly invested in Bitcoin (BTC). The CEO of the company also said that Bitcoin has become mainstream.

This information was conveyed by Soros Fund Management CEO Dawn Fitzpatrick to Bloomberg on Tuesday. In addition to holding the position of CEO, Fitzpatrick also serves as the company's Chief Investment Officer (CIO). He was the first person to occupy both positions.

"If you look at gold in September, it was down 5% so I think the fear of depreciating the US dollar has receded to some degree," Fitzpatrick said.

"The IMF just issued some kind of reserve currency balance and the US dollar has stopped weakening," he added.

Currently Bitcoin is trading above 50 thousand US dollars per coin. Responding to the positive trend of cryptocurrencies he mentioned that Bitcoin will become mainstream.

“I don't believe bitcoin is only seen as an inflation hedge here. I think it crossed the abyss into the mainstream. The cryptocurrency now has a market cap of over $2 trillion. There are 200 million users worldwide. So, I think it (Bitcoin) has become mainstream from our point of view," he said.

Previously, he also explained that the central bank digital currency or CBDC, which has recently begun to be discussed in various countries including China, is a potential threat to cryptocurrencies. However, he noted that "the threat is temporary."