Soros Fund invests in miners and crypto companies

According to information provided by the SEC, the fund’s assets include shares of Marathon Digital, MicroStrategy, and Silvergate Bank. The deals took place last year, and it is not yet possible to identify their targets.

The billionaire’s hedge fund became the owner of Marathon Digital’s convertible debentures on Dec. 31. The transaction amounted to $39.6 million. Such liabilities represent debt that can be converted into shares after some time.

Soros Fund also reported the availability of the pool and call options Micro Strategy for 50 thousand shares. In addition, the fund continues to hold about $200 million in preferred shares of the company. It should be noted that Micro Strategy takes the first place by the number of bitcoins, so such investments can be considered as an analog of investments in this cryptocurrency.

Traders express the opinion that such activity implies a hedging strategy for Micro Strategy securities. Note that the Soros Foundation also previously owned bitcoin. However, that was during a bull market in 2021.