{"id":12572,"date":"2022-06-04T06:10:49","date_gmt":"2022-06-04T06:10:49","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/crypto-is-here-to-stay-says-soros-fund-ceo\/"},"modified":"2022-06-04T06:10:49","modified_gmt":"2022-06-04T06:10:49","slug":"crypto-is-here-to-stay-says-soros-fund-ceo","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/crypto-is-here-to-stay-says-soros-fund-ceo\/","title":{"rendered":"Crypto is here to stay, says Soros Fund CEO"},"content":{"rendered":"

(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum & Crypto News )<\/b>
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Soros Fund Management CEO and CIO Dawn Fitzpatrick says crypto is going nowhere given its already mainstream.\u00a0<\/p>\n

The Soros\u2019 executive made the comments during an\u00a0interview<\/u><\/a> with Bloomberg<\/em>, noting that the entry of major mainstream players like Fidelity Investments was a key development.<\/p>\n

In her response on what she thought of crypto in terms of \u201ctaking off\u201d or being hindered by government regulation, Fitzpatrick said \u201cit\u2019s here to stay.\u201d<\/p>\n

\u201cI think it\u2019s gone mainstream,<\/em>\u201d she added, noting that \u201cFidelity just announced you can put it in your 401(k)<\/em>.\u201d<\/p>\n

Soros Fund Management is a top investment management firm founded by investor George Soros. The family office confirmed<\/a> it held some bitcoin in October last year. <\/p>\n

On Bitcoin and Ethereum<\/h2>\n

Regarding the future of the top two cryptocurrencies by market cap today (Bitcoin and Ethereum), Fitzpatrick thinks the smart contracts platform is set to see more traction than Bitcoin.\u00a0<\/p>\n

According to her, the issue of climate change could be the difference that pushes Ethereum above the pioneer cryptocurrency.<\/p>\n

She told Bloomberg:<\/p>\n

\u201cThe one caveat I would say is, first of all, climate impact is going to become increasingly in focus. So, in that context, I think Ethereum is likely to gain some more traction over Bitcoin<\/em>.\u201d<\/p>\n

Bitcoin is a proof-of-work (PoW) blockchain network that uses a lot of energy to process transactions and maintain network security. Notably, Ethereum is inching closer to fully transitioning from PoW to proof-of-stake (PoS), a network mechanism that\u2019s deemed more eco-friendly.\u00a0<\/p>\n

Blockchain applications<\/h2>\n

In other comments, Fitzpatrick noted that so many companies entering the crypto and blockchain space hold \u201cmassive Treasury accounts\u201d with loads of different coins, which she thinks could expose them to near term vulnerability.<\/p>\n

\u201cBut that said, I think blockchain technology is going to have some great applications and crypto is here \u2013 today<\/em>,\u201d she concluded.<\/p>\n

Fitzpatrick\u2019s comments come at a time when crypto is battling a bear market that has seen Bitcoin and Ethereum lose over half of their market value. However, industry figures continue to bet on the sector\u2019s future, noting that a \u2018crypto winter\u2019 is the best time to build.<\/p>\n

Recently, venture fund Andreessen Horowitz announced plans to invest billions in projects within the crypto and Web3 space.<\/p>\n

But Terra (LUNA)\u2019s debacle, including the collapse of its algorithmic stablecoin TerraUSD (UST), has the regulatory antennae firmly fixed on the sector.\u00a0<\/p>\n<\/p><\/div>\n

Source link <\/a>
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(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum & Crypto News ) Soros Fund Management CEO and CIO Dawn Fitzpatrick says crypto is going nowhere given its already mainstream.\u00a0 The Soros\u2019 executive made the comments during an\u00a0interview with Bloomberg, noting that the entry of major mainstream players like Fidelity Investments was a key development. In […]<\/p>\n","protected":false},"author":13,"featured_media":12573,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/12572"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=12572"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/12572\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/12573"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=12572"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=12572"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=12572"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}