A new Bitcoin fund was launched in early January by Anthony Scaramucci’s Sky Bridge Money. He says strengthened infrastructure and regulation have made BTC investments “as safe as owning bonds and commodities like gold.”
Anthony Scaramucci, head of SkyBridge Capital and former communications director of the White House, believes that the value proposition of Bitcoin (BTC) has greatly improved now that regimes have tackled many of the risks associated with digital currency.
Scaramucci and fellow SkyBridge executive Brett Messing, in an opinion article published on CNN, make the argument that Bitcoin has become a feasible choice for long-term investors seeking shelter from inflation. The authors also argue that possessing Bitcoin is much less risky today than it was when legislation and infrastructure were still inadequate a few years ago.
The proliferation of Bitcoin “has caused statutory bodies to intervene in and tackle many of the risks associated with the digital currency,” the authors claim, reacting to the Office of the Currency Comptroller’s decision to authorize banks to provide cryptocurrency services.
They proceeded:
Greater regulations, enhanced infrastructure and access to financial institutions, such as Allegiance, that hold the money of investors, have made Bitcoin investments as secure as owning bonds and commodities such as gold, which are often used to balance holdings.
When it filed a request with the U.S., SkyBridge Capital caused quite a stir last month. Securities and Exchange Commission to launch a hedge fund of Bitcoin. A few weeks later, the SkyBridge Bitcoin Fund LP began, with Allegiance acting as custodian and Ernst & Young doing all the auditing.
During the month of November and December, SkyBridge apparently invested in Bitcoin, enabling it to gain a significant digital asset position before its vertical spike. SkyBridge estimated it is BTC exposure was worth approximately $310 million at the time the fund was launched, on Jan. 4.
Institutional capital was a huge factor behind the 300% surge in Bitcoin in 2020, resulting on Jan. 8 with a new all-time high near $42,000. Bitcoin is beginning to be regarded by so-called smart money investors as a type of digital gold, one with a possibly far higher upside than gold and silver.
Wow, great post.
I am so grateful for your article.Thanks Again.
Appreciate this post. Let me try it out.
I am extremely inspired with your writing abilities and also with the
layout to your blog. Is that this a paid topic or did
you customize it your self? Either way stay up the nice quality writing, it
is rare to look a nice blog like this one nowadays..
This design is spectacular! You definitely know how to keep a reader entertained.
Between your wit and your videos, I was almost moved to start my own blog (well, almost…HaHa!) Wonderful
job. I really loved what you had to say, and more than that, how you presented it.
Too cool!
Great, thanks for sharing this blog article. Want more.
Im thankful for the blog.Much thanks again. Cool.
Major thanks for the blog article.Really looking forward to read more. Awesome.
Great blog article.Really looking forward to read more. Awesome.
Very informative article post.Thanks Again. Really Cool.
Im thankful for the article. Fantastic.
I always used to read article in news papers but now as I am a user of
web therefore from now I am using net for content, thanks to web.
0mniartist asmr
Very neat blog article.Thanks Again. Great.
My family members every time say that I am killing my time here at web,
however I know I am getting familiarity daily by reading such good posts.
It’s a pity you don’t have a donate button! I’d certainly donate to
this superb blog! I guess for now i’ll settle for book-marking and adding your RSS feed to my Google account.
I look forward to brand new updates and will share this site with my Facebook group.
Chat soon!