U.S. hedge fund Skybridge Capital has invested $182 million in Bitcoin
According to CoinDesk, the US hedge fund Skybridge Capital has invested as much as $182 million in Bitcoin on behalf of its fund.
According to a document submitted by the US Securities and Exchange Commission on December 21, the company manages $9.3 billion in assets and will publicly sell a new bitcoin fund in January next year.
According to a previous report by "Betwee", Skybridge Capital invested US$25.3 million in its Bitcoin fund, which was opened to the public in December. The new fund will be open to outside investors with at least $50,000 in capital from January 4.
Skybridge Capital is the latest financial services giant to be attracted by the world of digital assets after Paul Tudor Jones' Tudor Investment Corp and Renaissance Technologies.
Skybridge Capital expects institutions to continue to promote the cryptocurrency market. The company claims that the attributes of Bitcoin as an advanced version of gold, the maturity of the market and "multiple discussions with large asset allocators" will lead to more hedge funds, RIAs and insurance funds allocating funds to this number Assets.
The company described the attractiveness of Bitcoin to investors in a pamphlet promoting Bitcoin funds. It read: "Bitcoin is digital gold."
From a high level, the manual says that Bitcoin is an emerging asset class. In recent years, with the attractive supply and demand dynamics, the risk of Bitcoin has become lower. It pointed out that the adoption rate of Bitcoin in retail and institutions is increasing, and value is realized through network effects.
In addition, the document also pointed out that low interest rates and "unprecedented money printing" are the reasons for the premium of "scarce assets such as gold, real estate, art, and bitcoin."
This booklet has a page that focuses on "Bitcoin Respect: Wall Street Embraces Bitcoin", citing companies such as BlackRock and bank executives such as Citibank and JP Morgan if.
Skybridge Capital believes that hedge funds, financial executives of listed companies, insurance companies, pension funds, banks and brokerage companies will also invest in this area.
Anthony Scaramucci, one of the founders of Skybridge Capital, said in an interview with CNBC: “Bitcoin will become a very powerful asset class in the next 10 years.