George Soros Dumps Facebook, Goes For Crypto

Facebook Investment
Ad Disclosure
Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Last updated:
Ad Disclosure
Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Journalist
Journalist
Sead Fadilpašić
Author Categories
About Author

Sead specializes in writing factual and informative articles to help the public navigate the ever-changing world of crypto. He has extensive experience in the blockchain industry, where he has served...

Last updated:
Why Trust Cryptonews
Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews
Ad DisclosureWe believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. Read more

Soros’s investment fund has bought a large amount of stock in Overstock.com, CNBC reported.

Overstock is an e-commerce firm that has accepted Bitcoin as a payment since 2014, and their majority-owned subsidiary tZero announced in September that they would team up with financial services companies RenGen and Argon to launch a new trading system for Initial Coin Offerings (ICOs). After their announcement, their share prices spiked up over 200% immediately.

According to regulatory filings released by the the US Securities and Exchange Commission, at the end of the fourth quarter of 2017, the fund held 2,472,188 shares in Overstock, worth USD 157.97 million at the end of the last trading day in December. At the close of trade yesterday, the value had gone down to USD 146.72 million.

The report also shows the fund selling 109,451 shares of Facebook worth USD 19.3 million at the end of the quarter – having sold 367,262 shares the quarter before that.

George Soros, business magnate and one of the world’s most successful investors, founded Soros Fund Management in 1969. In 2010, it was reported to be one of the most profitable firms in the hedge fund industry, averaging a 20% annual rate of return over four decades.

Speaking at the World Economic Forum in Davos this year, Soros cast a favorable light upon blockchain as a technology, but called cryptocurrency a “typical bubble.”

More Articles

Price Analysis
Will Trump’s Tariffs Boost Bitcoin: Down 5% Again
Arslan Butt
Arslan Butt
2025-02-08 14:39:24
Price Analysis
Solana Struggles: Price Down Almost 15% in a Week – Is It Time to Buy?
Arslan Butt
Arslan Butt
2025-02-08 13:22:54
Crypto News in numbers
editors
Authors List + 66 More
2M+
Active Monthly Users Around the World
250+
Guides and Reviews Articles
8
Years on the Market
70
International Team Authors