Bitcoin and Ethereum will be the main pool of valuable assets says SkyBridge CIO Troy Gayeski.
SkyBridge Capital’s Co-Chief Investment Officer believes that Bitcoin (BTC) and Ethereum (ETH) would be the main assets in terms of store of value. Furthermore, he opined that the primary cryptocurrency would become the main financial instrument for use in transactions.
Bitcoin and Ethereum as a store of valuable assets
Despite the continuing downturn in the cryptocurrency market, SkyBridge Capital CIO Troy Gayeski praised Bitcoin as an asset class and highlighted its benefits. In a interview Recently to Bloomberg, he recalled that SkyBridge Capital had invested not only in the primary cryptocurrency, but also in Ethereum. In his opinion, the two biggest digital assets will be the preferred options for value stores in the future.
Furthermore, Gayeski agreed that the price of the BTC’s fiat currency is volatile, but raised hopes that it will eventually become the “market leader in terms of transaction usage:”
“It will be a volatile asset, but it remains very uncorrelated. And we think the risk-reward is now skewed again to the upside. ”
The Bitcoin proponent considers the current supply shock in the cryptoactive market to be very similar to what happened in October and November 2020.
“When you look now at the network data, what basically means is that many of the strong holders are reasserting themselves and building up from those who entered the market at the end of last year.”
Gayeski also explained that SkyBridge Capital is always looking to generate differentiated returns from stocks and fixed income, so it chose to invest in the cryptoactives market. In addition, the CIO stated that BTC’s institutional adoption cycle continues.
Other views on the future of BTC
Nearly a month ago, SkyBridge Capital founder Anthony Scaramucci expressed another optimistic view of the Bitcoin outlook. At that time, he predicted that the value of the fiat currency would reach new heights in the next 24 months:
“I’m very confident that we’ll be sitting here a year or two from now and we’ll talk about this volatility, but we’ll also be surprised by the BTC’s upward trajectory over the next 24 months.”
Legendary investor Ben Miller also shared his thoughts on the current landscape surrounding the primary cryptocurrency. The billionaire recalled that the asset was created in times of deep economic crisis to combat financial setbacks. However, he cannot give a direct prediction of whether it will be a lasting store of value, as many experts on both sides have solid theses:
“Bitcoin was born out of the 2008 crisis and was designed to be free from government control and manipulation, to be the ultimate inflation-proof asset. It is an open question whether it will be a lasting store of value, with many strong opinions on both sides. ”