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Soros, Rockefeller Now Trading Cryptocurrencies. Good Time To Get In?

As the digital currency market matures, a number of financial moguls, some of them former crypto skeptics such as George Soros as well as the Rockefeller family, are beginning to take positions in this burgeoning asset class.

This is of course the same George Soros who, back in January during a speech he gave at the World Economic Forum in Davos, called cryptocurrencies a bubble. Earlier this week, however, Bloomberg reported that the family's $26 billion Soros Fund Management is planning to trade digital assets.

The Rockefeller family’s venture-capital arm “Venrock” is taking a different tack. Venrock has partnered with CoinFund to help entrepreneurs launch blockchain-based businesses. Earlier this month, Venrock partner David Pakman told Fortune, “We wanted to partner with this team that has been making investments and actually helping to architect a number of different crypto economies and crypto token-based projects.”

These new participants are not going unnoticed by the crypto community. Charles Hoskinson, the CEO of Cardano tweeted: “Rockefeller, Soros, and Rothschild money entering the cryptocurrency space….it sounds like regulations might be getting a bit more lax.”

It should be noted that though Hoskinson got it right about the Rockefeller and Soros families, the 'Rothschild money' he refers to was actually a stake in Bitcoin Investment Trust (OTC:GBTC) taken by the Rothschild Investment Corporation in 2017, which stirred up market excitement till it was made clear that the firm had no relationship to the Rothschild family.

Could Warren Buffet be next to jump on the crypto band wagon? He went on record in January saying he believed 'they will come to a bad ending,' but then Soros wasn't originally a fan either.

As more and more traditional institutional investors enter crypto what might that mean for the asset? Many would like to see prices heading back toward the heady numbers seen at the end of 2017. At the moment, however, the most popular tokens such as BitcoinEthereum and Ripple haven't seen a boost. Indeed, former high-flyer BTC is currently trading below $7,000, Ethereum is barely above $400 and Ripple is a hair below 0.51 at time of writing.

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