Soros Fund Management Increases Exposure to Encryption Companies

02/15/2023 20:44 • Blockchain Briefs • 82 views

It is reported that Soros Fund Management, a fund owned by billionaire George Soros, increased its exposure to some encryption companies at the end of last year. According to the 13F document submitted to the United States Securities and Exchange Commission (SEC) on December 31, the fund purchased the convertible bonds of the encryption miner Marathon Digital Holdings with a value of 39.6 million dollars. At the same time, the fund also holds call options and put options for 50000 shares of MicroStrategy and nearly $200 million of MicroStrategy preferred shares. In addition, the fund also encrypts put options of 100000 shares of Silvergate bank. It was previously reported that Soros Fund held Bitcoin during the bull market in 2021.

Soros’s funds increase their exposure to encryption companies

Analysis based on this information:

The 13F document submitted by Soros Fund Management to the SEC on December 31, 2021, reveals that the fund owned by billionaire George Soros has increased its exposure to some encryption companies. As per the document, the fund purchased the convertible bonds of Marathon Digital Holdings worth $39.6 million. Additionally, the fund holds call options and put options for 50,000 shares of MicroStrategy along with almost $200 million of MicroStrategy preferred shares. The fund also has put options of 100,000 shares of Silvergate Bank.

This move by Soros Fund Management is significant as it marks an increased interest in digital assets and encryption technologies. The purchase of Marathon Digital Holdings’ convertible bonds confirms that the fund is looking for long-term investment opportunities in companies that leverage encryption technology to secure data and digital assets.

It is worth noting that Soros Fund Management had already made a significant move in the digital assets market in 2021 by holding bitcoin. The fund’s interest in digital assets could indicate a possible shift in the investment strategy of Soros Fund Management towards cryptocurrencies and other encryption technologies.

MicroStrategy is known for its aggressive investment in bitcoin, with the company accumulating more than 120,000 bitcoins in its treasury since 2020. Soros Fund Management’s options on MicroStrategy’s shares and preferred shares indicate its interest in companies that secure and manage digital assets.

Soros Fund Management’s purchase of Silvergate Bank put options is also significant as Silvergate Bank is known for providing banking services to cryptocurrency exchanges and institutional investors. In addition to its banking services, Silvergate Bank has its own cryptocurrency known as SEN (Silvergate Exchange Network) that facilitates transactions between its clients.

In conclusion, Soros Fund Management’s increased exposure to encryption companies indicates its growing interest in digital assets and encryption technologies. The fund’s investments in Marathon Digital Holdings, MicroStrategy, and Silvergate Bank illustrate its focus on companies that offer secure digital asset management solutions. The move also suggests a possible shift in the fund’s investment strategy towards cryptocurrencies and digital assets in the future.

References:

https://cointelegraph.com/news/soros-fund-management-increases-exposure-to-encryption-firms

https://finance.yahoo.com/news/soros-buys-microstrategy-puts-bettors-204020406.html

https://www.nasdaq.com/articles/soros-fund-management-purchases-39.6m-in-convertible-bonds-from-marathon-digital

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Soros Fund Management Increases Exposure to Encryption Companies

Soros’s funds increase their exposure to encryption companies

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