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00:00Do you have an especially high level of conviction positive or negative about strategies or themes. We think the whole infrastructure around crypto. Is really interesting. And you know we've been making some investments into that infrastructure and and we think that is at an inflection point. I'd say it's it's everything from kind of exchange asset managers custodians to the mundane like tax reporting on your on on your crypto gains and everything in between. But we think we think that's interesting. So when it comes to crypto generally I think there there are some some some important we're at a really important moment in time in that something like Bitcoin might have stayed a fringe asset. But for the fact that you know over the last twelve months we've increased money supply in the US by 25 percent. So there is a real fear of debasing of fiat currencies. And I end when you think about Bitcoin I don't think it's a currency. I think it's a commodity but it's a commodity that's easily stoppable. It's easily transferable. It is. The IRS classifies it as a physical asset. It has a finite amount of supply. And that supply halves every four years. So. So I think it's I think it's interesting. And I think by the way when you look at gold price action in the context of a fairly robust inflation narrative of late it's struggled getting traction. I think that's because Bitcoin is taking some some of its firebase away. Do you own any bitcoin. That is what I would call a mysterious response. But I will say the one thing also when you think about Bitcoin is central bank digital currencies are going to be here. I think quicker than people expect. You know China's been running. They're there. They're on trial for a while now. And I think there is some strategic reasons why they are going to be a first mover. And I do think from a geopolitical perspective they want to use that digital digital currency too. They want that to be used around the world. And it is a potential threat to other bitcoin and of print. I was just going to say that that legitimized Bitcoin or does it deal legitimize Bitcoin. So I think it is a real threat but I think it will be temporary. I don't think they'll be successful in in permanently destabilising Bitcoin.

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Cryptocurrency Is a Top Theme for Soros CIO Fitzpatrick

Soros Fund Management Chief Investment Officer Dawn Fitzpatrick sees an “inflection point” for Bitcoin and other cryptocurrencies. The firm has been making investments in firms providing the so-called crypto infrastructure, such as exchanges, asset managers and custodians. Fitzpatrick discusses them in this interview excerpt and explains why she thinks Bitcoin has found such appeal. She spoke exclusively with Erik Schatzker on Bloomberg’s “Front Row.” (Source: Bloomberg)

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