During its early days, the criticisms of Bitcoin revolved around the digital asset’s volatility and not been considered a good hedge against low-risk assets. However, the narrative is beginning to change, as many retail and institutional investors have now committed massive funds to the digital asset. However, one of the reasons investors are flocking around Bitcoin is that the asset is now proving to be of more value than Fiat, whose devaluation has continued to rise. This assertion is shared by Dawn Fitzpatrick, Chief Information Officer of Soros Fund Management, who believes that Bitcoin is now the future of money.
Soro Funds have already supported two Blockchain projects
In a recent interview with media giants Bloomberg, Fitzpatrick believes that the recent devaluation of the U.S dollars, which had increased inflation across many sectors of the world, is making Bitcoin look like the future of money. In her analysis, the Executive compared Bitcoin, which had seen an increase in value of more than 800% in the last 12minths, to the U.S dollars that have seen its value fall by up to 30%. Many analysts have shared such opinions in the past, as the digital asset’s value has continued to plummet.
Fitzpatrick also confirmed that her firm had also joined the growing list of corporations meddling around cryptocurrencies and Bitcoin. She confirmed that the asset management firm has started to invest in a few Blockchain infrastructures, as everyone around the firm is solidly behind Bitcoin. The asset managers have already contributed to two separate fundings for two different Blockchain projects this month alone, as Fitzpatrick confirmed that the firm still has more in its pipeline to offer Blockchain projects. However, the Executive did not disclose if Soro Funds have invested funds directly into Bitcoin or any other digital assets.
Fitzpatrick does not see digital currencies superseding cryptocurrencies
Fitzpatrick was quizzed on her opinions concerning inflation and what she feels could be done in her interview. The business executive believes that the global inflation in the world is at that point where it cannot be curbed. However, she feels that the launch of digital currencies will likely aid their cause, but she does not see them as a permanent option. However, she believes that Bitcoin and other cryptocurrencies will continue to prove their self-worth over fiat currencies and even digital currencies, should they ever see the light of the day.
The adoption of Bitcoin and cryptocurrencies by Soro Funds shows that the digital assets are going nowhere soon, as Fitzpatrick is one of the few who believe that the digital assets are no longer assets that can be ignored. Unfortunately, there are still a few criticisms against the cryptocurrencies, which continue to derail assertions. However, with Bitcoin and other cryptocurrencies pulling off the weights, many analysts firmly believe that Cryptocurrencies are the future of money.