Billionaire George Soros could be the latest crypto convert

George Soros is often considered as the ‘Guru’ in the share market due to his strategic calls on macroeconomic conditions. Earlier this year in January 2018, George Soros described cryptocurrencies including Bitcoin as a bubble and misnomer. Furthermore, he also mentioned that the cryptocurrencies cannot be termed as ‘currency’ as they do not store value stably.

George Soros considered the volatility of Bitcoin price as one of the major drawbacks. But, surprisingly, it is this drawback that has made George change his mind about the cryptocurrencies. Now, it is said that George Soros is all set to invest in the cryptocurrency because he is happy with the happenings taking place around Bitcoin!

With such a flip in the opinions of George Soros, it is possible that the opinions were presented earlier purposefully to bring down the price of Bitcoin. Whether it was done purposefully remains a big question but a bigger question is what made him suddenly change his mind!

Not only George Soros, other Wall Street moguls like Alan Howard have also started preparing to invest in cryptocurrency. This is an indication that cryptocurrencies are on their rise and are appealing to the financial experts as well!

Another question that prevails is whether the prices of cryptocurrencies will rebound! The price of Bitcoin may still reach the exorbitant prices as it has earlier but how long will it take is not known as this point!