In the past week news broke that a George Soros backed investment fund was getting into cryptocurrency trading, even though earlier this year, Soros himself had called the digital currency market "Nothing but a mere bubble".
Adam Fisher, who is in charge of macro investments at New York-based Soros Fund Management, reportedly received unanimous internal approval for his move to start trading in virtual assets.
A couple of days back it was reported that Venrock, a venture capital firm backed by the Rockefeller family, would be partnering with a Brooklyn-based cryptocurrency investor group called Coin Fund for digital asset trading and investments.
"It is encouraging to see institutions with the historical track record of Soros and Rockefeller beginning to gain exposure to blockchain and cryptocurrencies. I anticipate more and more institutional capital will begin to pour in, hopefully leading to a more mature and sophisticated market."
As western institutional money continues to flow into the crypto domain, it is only a matter of time till we witness a resurgence of this market sector.
Digital asset holders need to sit tight and let these heavy transitional waves roll on.
None of the information you read on CryptoSlate should be taken as investment advice.
Buying and trading cryptocurrencies should be considered a high-risk activity.
Please do your own due diligence before making any investment decisions.
Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
Bitcoin Drops Back Below $7000 As Institutional Money Continues to Flow In
Published on Apr 9, 2018
by Cryptoslate | Published on Coinage
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