Soros and Rockefellers take first steps to invest in cryptocurrency
The rise in popularity of cryptocurrency and the digital token market received with enthusiasm the news that two of Wall Street's best-known funds will start investing in this revolutionary technology. George Soros and the Rockefeller family have taken their first steps to invest in cryptocurrency.
The man who managed to break the Bank of England was skeptical at the beginning of the year regarding virtual currencies, now however he gives its fund manager the go-ahead to start operating with these assets. Adam Fisher, who oversees the macroinvestments of Soros Fund Management and who moves $26bn from his headquarters in New York, has obtained internal permission to start trading with virtual currencies.
However, it is not Soros' first move regarding crypto markets, he has already been indirectly betting on them. His fund acquired a large share in 'Overstock.com' at the end of 2017, thus becoming the third owner of the e-commerce company. This company became the first retailer to accept digital tokens as a means of payment in August last year, as well as plans to launch a cryptocurrency stock market that can operate within the platform.
The Rockefellers adopted a similar strategy, who announced in April a cooperation agreement with the CoinFund company that is dedicated to investments in crypto currencies. Venrock, the family's official venture capital arm, was the one who carried out the operation, and whose partner, David Pakman, called it a "long-term investment".
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