15:13 GMT02 August 2021
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    A famous billionaire who earlier branded bitcoin as a "bubble" and a financial tool used by dictators is now reportedly preparing to start trading cryptocurrencies himself.

    Adam Fisher, the man in charge of macro investing at Soros Fund Management, was granted internal approval to trade in virtual currencies, Bloomberg reports, citing people familiar with the matter.

    At this time however, it appears that Fisher hasn’t yet made a wager and a spokesman for the fund has declined to comment, the media outlet adds.

    Earlier this year, during his appearance at the World Economic Forum in Davos, George Soros insisted that bitcoin is merely a bubble and a tool employed by dictators around the world.

    "As long as you have dictatorships on the rise, you will have a different ending, because the rulers in those countries will turn to Bitcoin to build a nest egg abroad," he said.

    As Bloomberg points out, George Soros already became indirectly involved in cryptocurrency operations as his company became the third-biggest shareholder of the discount e-commerce firm Overstock.com which "became the first major retailer to accept digital currencies" in August 2017.


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