Legendary investor George Soros, who earlier called cryptocurrencies a bubble, now plans to trade digital assets.

According to Bloomberg, New York-based Soros Fund Management, Soros's family business, may start cryptocurrency trading, as Adam Fisher, who oversees macro investing in the fund, got internal approval of such operations. A spokesman declined to comment.

George Soros is not enthusiastic about cryptocurrencies. Speaking at the World Economic Forum in Davos, he said that they can not compet with traditional money due to their volatility. Still, he did not go to extremes, like many other Wall Street investors, claiming that cryptocurrencies are a pure bubble.

“As long as you have dictatorships on the rise you will have a different ending, because the rulers in those countries will turn to Bitcoin to build a nest egg abroad,” Soros said.

Soros Fund Management has already invested in cryptocurrency companies, but in indirect way. In the fourth quarter of 2017, the fund acquired a stake in Overstock.com, becoming the third-largest shareholder of this online retailer. In August 2017, Overstock became the first major trading network that decided to accept payments in digital currencies. Additionally, the company also planned to launch a decentralized platform tZero, raising financing via Initial Coin Offering (ICO). During the first stage of the ICO, tZero attracted more than $100 million, but in March, Overstock announced that the US Securities and Exchanges Commission (SEC) started investigating the platform's tokensale. As a result, the company's shares fell by 40%.