Ex Director of White house claims that Bitcoin is as stable as gold and bonds.

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.

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