Bitcoin has been on a tear over the last six months, climbing almost 500% amid a bull market that’s made the cryptocurrency a $1 trillion asset.
The bitcoin price, now hovering near its all-time highs of around $60,000 per bitcoin, has soared as Wall Street giants and companies including Elon Musk’s electric car company Tesla make big bets on bitcoin.
Now, as the broader cryptocurrency market nears $2 trillion—up almost three-fold since the beginning of the year—the chief investment officer of Soros Fund Management has claimed bitcoin is at an “inflection point” following a number of crypto infrastructure bets by the George Soros-founded asset manager.
“We think the whole infrastructure around crypto is really interesting, and we’ve been making some investments into that infrastructure—and we think that is at an inflection point,” Soros Fund Management’s Dawn Fitzpatrick told Bloomberg, pointing to the growth of bitcoin and crypto exchanges, asset managers and custodians.