Dawn Fitzpatrick, CEO, and CIO of the $27 billion Soros Fund Management announced that the investment management giant has been liquidating the $5 billion it had invested in March 2020 during the Covid-19 triggered market instability. Furthermore, Fitzpatrick noted that the company will be redirecting its investment into Decentralized Finance.
Defi Dominance over the “mainstream” Bitcoin
Soros CEO and CIO confirmed that the company owns a small portion of crypto in their portfolio. However, Fitzpatrick claimed Defi’s dominance over “mainstream” crypto, stating that coins have become less interesting as compared to the use cases of Defi.
“We own some coins — not a lot — but the coins themselves are less interesting than the use cases of Defi and things like that,” she told Bloomberg, noting that “cryptocurrencies have gone mainstream.”
Chainalysis report confirms Defi growth
The latest virtual currency adoption report by blockchain-based analysis firm, Chainalysis
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