Soros Fund Management, the investment vehicle of hedge fund giant George Soros, said that although the nature of the trades is uncertain, some prior to the end of last year. cryptocurrency seems to have invested in their company.
Soros Fund Has Investments in MicroStrategy and Marathon
Soros Fund Management has purchased 39.6 million worth of convertible bonds from cryptocurrency mining company Marathon Digital Holdings, according to the U.S. Securities and Exchange Commission’s (SEC) filing 13F dated December 31. Convertible bonds are types of long-term debt issued by a company that can be converted into stock after a certain period of time.
The fund also appeared to hold over 50,000 shares of MicroStrategy with call and put options.
In addition to these common stock hedges, the fund continued to hold approximately $200 million in MicroStrategy preferred shares.
One trader told CoinDesk that this investment is likely a hedging strategy through options trading on MicroStrategy shares.
The fund also announced a short position holding 100,000 shares worth of put options at the distressed cryptocurrency-focused bank Silvergate Bank. As the document in question was prepared by the end of 2022, it is currently unclear whether Soros Management is still short on Silvergate.
The Soros Fund was previously reported to own Bitcoin during its bull rally in 2021. Fitzpatrick, head of Soros Fund Management, told Bloomberg at the time that Soros Fund Management “has some coins, but not many.”
*Not investment advice.
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