Friday, April 6, 2018

Soros turns into a value investor as he signals his intentions to buy Cryptos now that their prices have crashed more than 70%

Anyone can profit from a little MOMO trading in the short and medium terms, and some even get rich from HODLing their stocks and other assets.  However investors like Warren Buffett, Jim Rogers, and George Soros have both proven that over the long haul that value investing is the best way to go.


So for the cryptocurrency community now may be the time they've been waiting for as a new player announced on April 6 they are finally getting into this market, and it is none other than the man who once crashed the British Pound currency a few decades ago.
Having once dismissed cryptocurrencies as a bubble, billionaire financier George Soros has completed a dramatic about-turn and is now preparing in invest in virtual assets. 
As recently as January Soros described cryptocurrencies as a “nest egg for dictators” and said the digital coins cannot function as actual currencies because of their wild volatility. 
“Bitcoin is not a currency because a currency is supposed to be a stable store of value and the currency that can fluctuate 25 percent in a day can’t be used for instance to pay wages because wages drop by 25 percent in a day. It’s a speculation. Based on a misunderstanding,” he said at the World Economic Forum in Davos. 
“[It’s] a typical bubble, which is always based on a misunderstanding like the tulip mania.” 
Despite this grim analysis, the Hungarian-American’s $26 billion family office is now preparing to invest in crypto, according to Bloomberg. – Russia Today

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