In a recent interview with Bloomberg, Dawn Fitzpatrick, CEO of Soros Fund Management, projected that Ethereum would gain “greater traction” than Bitcoin. Climate change, according to Fitzpatrick, will become more prominent. This might stymie Bitcoin’s adoption based on the energy-intensive proof-of-work consensus process. Fitzpatrick of George Soros Fund Prefers Ethereum over Bitcoin https://t.co/qU6tTG36BR — TechnoPixel (@TechnoPixel_Org) June 1, 2022 Ethereum is projected to drastically lower its power consumption by switching to proof-of-stake later this year. According to Vitalik Buterin, co-founder of Ethereum, the merging upgrade might happen in August. Overall, Fitzpatrick believes that cryptocurrency will be there for a long time and that it has become mainstream. The manager of billionaire George Soros‘ money believes that blockchain will have many applications. She cited Fidelity Investments’ recent announcement that consumers will be able to invest a percentage of their retirement assets in Bitcoin, a move that could significantly boost cryptocurrency adoption. Soros’ Family Fund Had Some Bitcoin Fitzpatrick confirmed in October that Soros’ family fund had some Bitcoin. On the other hand, Fitzpatrick feels that firms that primarily hold their treasury assets in crypto are at risk in the foreseeable future. Over the last few months, cryptocurrency values have been under severe pressure, with Bitcoin losing money for ...
