Billionaire investor George Soros’ investment fund has reportedly cleared its traders to start investing in Bitcoin.
According to a report from The Street overnight citing individuals with knowledge of the matter, the chief investment officer of Soros Fund Management Dawn Fitzpatrick, gave the green light for staff to actively trade Bitcoin and possibly other cryptocurrencies.
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Soros’ fund is the latest institution to join the rapidly growing market of major investment managers taking an interest in the crypto market following its boom in value earlier this year.
Earlier this week, ARK Invest, the fund run by star stock picker Cathie Wood, advanced its own participation in the crypto market by filing paperwork with US regulators to create a Bitcoin exchange-traded fund (ETF).
READ: Cathie Wood’s ARK Invest plans Bitcoin ETF
The move follows vocal support of Bitcoin by Wood, who said earlier this year that she expected the price of the digital currency to hit US$500,000 despite its recent downturn.
In late morning trading in London on Thursday, Bitcoin was down 4% in the last 24 hours at US$33,272, giving it a market cap of US$623.7bn.