According to Tyler Durden,
“Despite the collapse in cryptocurrency prices since the beginning of the year (bitcoin is down more than 60% and ethereum down more than 70% from their ATHs), more marquee investors have decided that now is the time to buy in.
Last week, we noted that George Soros had taken some time out from his battle of wills with Hungarian Prime Minister Viktor Orban to grant one of his underlings approval to begin trading in crypto. Adam Fisher – who oversees macro investing at New York-based Soros Fund Management – has reportedly received internal approval to trade virtual coins in the last few months, “though he has yet to make a wager.”
Soros’s involvement followed reports last year that the Rothschild family had waded into the space – first by purchasing bitcoin exposure via the Grayscale Bitcoin Trust.
Their involvement is a sign that regulators around the world might be relaxing their stance toward crypto, as one prominent crypto entrepreneur and investors pointed out
“Resonating the vast popularity of cryptocurrencies, it has been reported that Russia is working on a government-run cryptocurrency, while other leading countries including the US, China, Japan and Canada are either exploring or actively working on some form of digital currency. Similarly, central banks from Singapore to Sweden have been pondering the feasibility of issuing digital versions of their own money. It is felt digital currencies could cut out middlemen and banks.
Alluding to the rapidly evolving area of central banks’ interest in digital currencies, Bank for International Settlement has come out with a report this month titled: “Central bank digital currencies”. The report published by BIS’ two committees viz.: Committee on Payments and Market Infrastructures and Markets Committee suggests central banks should carefully consider the implications for financial stability and monetary policy of issuing digital currencies.”
Richard Paul
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