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October 4, 2022
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SkyBridge Capital: investing in Bitcoin makes a lot of sense today –

Anthony Scaramucci, head of SkyBridge Capital and former White House Communications Director, believes that investing in Bitcoin (BTC) now makes a lot of sense. In his opinion, the position of the cryptocurrency has now strengthened, and this is due to the actions of governments.

Anthony Scaramucci: Owning Bitcoin is no longer as risky as it was before

In an article published on CNN website, Scaramucci and SkyBridge executive Brett Messing say Bitcoin has become an interesting asset for long-term investors who are looking for a safe haven from fiat currency inflation today. The authors of the text also argue that owning Bitcoin today is much less risky than it was a few years ago when the regulations and infrastructure of the market were still underdeveloped.

Bitcoin development “Caused government and institutions to step in and deal with the many risks associated with digital currency”, the authors wrote, referring to the decision of the US Office of Currency Controller to authorize banks to provide cryptocurrency storage services.

“[…] increased regulation, improved infrastructure and access to financial institutions – such as Fidelity – that hold investors’ money have made bitcoin investments as safe as owning bonds and commodities such as gold, which are also used to balance wallets. “

– they added.

SkyBridge Capital enters the Bitcoin market

SkyBridge Capital took a big step forward in cryptocurrency operations last month when it applied to the US Securities and Exchange Commission (SEC) to launch a bitcoin hedge fund. SkyBridge Bitcoin Fund LP was launched a few weeks later, with Fidelity acting as a depository in it, while Ernst & Young is responsible for auditing.

SkyBridge reportedly invested in Bitcoin in November and December, thus enabling itself to build a strong position in the digital asset market. At the time of the fund’s launch, on January 4, SkyBridge claimed its exposure to BTC was worth approximately $ 310 million.

The recent increases in the Bitcoin market are probably due to large companies such as SkyBridge.

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