George Soros is now officially trading bitcoin. Good or bad? - page 2.

famososMuertos

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Quote from: Lee_Mire on July 01, 2021, 02:24:07 AM

OK, so George Soros is now officially trading bitcoin at his investment firm Soros Fund Management. His intentions are unclear but he is well known for being a ruthless financier. Do you think this a good or bad thing for bitcoin?

[maybe]These old millionaires come to have fun with bitcoin in a personal bet with another millionaire or billionaire in this case[/maybe] by the way you made me google his name:
https://www.opensocietyfoundations.org/george-soros

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Why is billionaire George Soros a bogeyman for the hard right?

Source: https://www.bbc.com/news/stories-49584157

It is always good to make the reference, you cannot know everyone, if I do read this man a bit you can understand his question of whether he is good or bad, let's say there are quite a few grays in his environment.

bryant.coleman

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As far as I know, George Soros is opposed to the very idea of cryptocurrency and I don't expect a change in position from him anytime soon. Now coming to Soros Fund Management, I think that other players may also be involved in making the decisions. Also, we need to check whether their involvement with cryptocurrency is direct, or through intermediaries. I am being so skeptical, because the posters here have a habit of using fake news as clickbait. I normally don't believe these posts, unless I could confirm them from Forbes or Bloomberg.

passwordnow

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Every big guy is free to trade whenever they want. And this only signifies that he cannot ignore the market of bitcoin for which he can trade and that means money to him. Nothing to expect if there's a known guy gets into bitcoin and they've announced their interest to trade because everyone does what they also do. The main difference is that they're known and they've got loads of money as their capital to start which can make them more money too as they trade.

kryptqnick

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I don't mind him being involved in BTC trading. Of course, it's profit-oriented, but if there are more people like this, their marginal utility, so to speak, decreases. If there's just Elon Musk, his impact is very high. But if there are also others like Soros, if one of them goes bullish or bearish, it'll affect the market less. Also, I sympathize with Soros a bit because while he's very rich, he tries to help out other people by donating lots of money to good causes, so I think it's good for BTC reputation to have such names backing it up. According to Wikipedia,

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He has also donated 64% of his original fortune, making him the most generous giver (when measured as a percentage of net worth), and distributed more than $15 billion through his Open Society Foundations (an international grantmaking network that supports advancing justice, education, public health and independent media).

Kong Hey Pakboy

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It's both a good and a bad in my opinion because as you have said, Soros is a ruthless financier meaning that with his money he can probably move the market to his liking and have people get in and fatten up the prices and pull out all the money and profit out of the losses of those who followed. It's good because it means that the market will have more players on the field and the prices are going to up.

yhiaali3

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George Soros is one of the most famous businessmen in the world and of course he is on the Forbes list of the world's rich, he is known to be a very successful businessman, but I don't think he is very interested in adopting bitcoin, in the end there will not be much difference between him and Elon Musk, both of them are looking for profit and double their money.
Of course, this news will have a good effect in the beginning because a big rich businessman joins the Bitcoin club, but soon he starts manipulating prices like Elon Musk to make more profits.

Yaunfitda

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Quote from: Lee_Mire on July 01, 2021, 02:24:07 AM

OK, so George Soros is now officially trading bitcoin at his investment firm Soros Fund Management. His intentions are unclear but he is well known for being a ruthless financier. Do you think this a good or bad thing for bitcoin?

50/50, this old and traditional fart just wanted to make money out of this market. Maybe they have been observing from the background for many years and just decided that it is about time to enter and play the market as whales. Although it might bring more investors to the market because of this news, but I would be very cautious. In the end whales like him, can manipulate the price in their favor or can have shills to spread FUD so that they can buy cheap cryptos.

acener

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Quote from: NeuroticFish on July 01, 2021, 02:29:00 AM

Quote from: Lee_Mire on July 01, 2021, 02:24:07 AM

His intentions are unclear but he is well known for being a ruthless financier. Do you think this a good or bad thing for bitcoin?

His intentions are 100% clear: he wants to make even more money.

It is clear that when big names enter vrypto it is always for the profit,
It is always a good thing for crypto when people enter the market it is for the growth of crypto industry,
It doesn't matter if it's big or small investor they are contributing to the growth and sometimes publicity of crypto.

NeuroticFish

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Quote from: Lee_Mire on July 01, 2021, 02:24:07 AM

His intentions are unclear but he is well known for being a ruthless financier. Do you think this a good or bad thing for bitcoin?

His intentions are 100% clear: he wants to make even more money.

It may be good as advertising for Bitcoin. It may be bad for the price fluctuations and market manipulation, but we already have that so he cannot do much worse.
I'd say that's it's good and bad at the same level. Nothing impressive.

Lee_Mire

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OK, so George Soros is now officially trading bitcoin at his investment firm Soros Fund Management. His intentions are unclear but he is well known for being a ruthless financier. Do you think this a good or bad thing for bitcoin?

Topic: George Soros is now officially trading bitcoin. Good or bad? - page 2. (Read 187 times)