Billionaire George Soros’ hedge fund has added positions to companies exposed to crypto including Marathon Digital, MicroStrategy and Silvergate Bank.
Soros Fund Management, the hedge fund of American billionaire George Soros, has increased its exposure to cryptocurrencies since late 2022 by investing in public companies related to the sector.
According to 13F profile filed with the Securities and Exchange Commission (SEC) on December 31, the Soros fund purchased $39.6 million in convertible bonds of a crypto mining company. Marathon Digital Holdings (MARA). A convertible bond is a type of long-term debt issued by a company that can be converted into shares after a certain period of time.
Next, the fund holds 50,000 shares of data company MicroStrategy’s MSTR with call and put options. In addition to these common shares, the billionaire’s hedge fund also owns nearly $200 million in preferred shares of MicroStrategy.
This is considered an indirect action to support Bitcoin because of MicroStrategy, founded by the billionaire Michael Saylor, famously favors this cryptocurrency. As of the end of last year, MicroStrategy held up to 132,500 BTC after buying more 2,500 Bitcoins after an interruption.
And finally, Soros Fund Management also showed that it bought 100,000 shares of SI under the put of “crypto-friendly bank” Silvergate Bank, which is currently being US officials investigate the relationship between the exchange FTX. The put order is determined at the end of 2022, it is not clear whether Soros will still hold it or not.
The Soros Foundation was previously reported to be bought into BTC in the 2021 bull run.