CEO of Soros Fund Management says Ethereum is superior to bitcoin

According to Dawn Fitzpatrick, this is due to the network’s upcoming move to PoS and the crypto community’s increased focus on climate change issues

01.06.2022 - 09:30

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2 min

What’s new? Soros Fund Management CEO Dawn Fitzpatrick believes that Ethereumwill become more popular compared to bitcoin. This is due to the upcoming “The Merge” upgrade, which will see the Ethereum network switch from the Proof-of-Work (PoW) consensus algorithm to Proof-of-Stake (PoS). According to Fitzpatrick, the issue of climate change is attracting more and more attention from the crypto community, and against this backdrop, the energy intensity of the first cryptocurrency may have a negative impact on attitudes towards it.

The full version of the interview

What other statements have been made? In this, the head of Soros Fund Management believes that cryptocurrencies have already become mainstream, and will be more widely used in the future. Thus, she cited the example of Fidelity Investments, a financial holding company that would offer clients the service of investing funds from 401(k) retirement accounts in bitcoin.

Soros Fund Management is an American hedge fund founded by billionaire George Soros in 1969. The fund has $6,57 billion in assets under management, according to its most recent report on Form 13F. George Soros’s fortune is estimated at $8,6 billion (according to Forbes).

What events happened before? In October 2021, it became known that George Soros’s family office had invested in cryptocurrencies. In an interview with Bloomberg, Dawn Fitzpatrick confirmed that the billionaire has assets in BTC.

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