SkyBridge increases its bet on Bitcoin

SkyBridge is another traditional manager moving in the Bitcoin market.

A few days after launching a Bitcoin fund and revealing the purchase of US$ 25 million in the digital asset, SkyBridge made a new announcement and revealed that its position increased to US$ 310 million.

„We believe Bitcoin is at its beginning as an exciting new asset class,“ said SkyBridge founder and managing partner Anthony Scaramucci. „With the quality institutional custodian solutions available today, we believe it’s the right time to allocate capital and provide our clients access to the digital asset market.

The fund allows for investments in Bitcoin Revival and is just one of the new participants to meet the growing demand from wealthy investors.

„With global cash printing on the rise, Bitcoin offers a strong alternative to gold as a store of value and protection against future inflation,“ said Ray Nolte, co-investment manager and senior partner at SkyBridge.

As London announces a new lockdown, money printing can accelerate further, making money a dispensable commodity.

Stocks remain people’s favourite investment, with around US$100 trillion worldwide and growing.

Bitcoin is on its way to being investors‘ preferred investment asset while money depreciates, especially as cryptomites aspire to challenge the stock market through DeFi offerings.

This has led to a growing institutional adoption of currency as a hedge against cash and as an advanced way to finance with Bitcoin now beginning to replace gold, while Ethereum prototypes automate digital banking.

Leading to a formidable duo that are complementarily leading to significant innovation in finance at a time of negative interest rates.

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