By Hidayat Sultanli
On Dec 30, 2020
Bitcoin continues to attract institutional investors. Global investment firm SkyBridge Capital has invested $ 182 million in Bitcoin (BTC).
Bitcoin has made incredible history over the past three months. The price suddenly broke the levels it had not seen since 2017. It went through an extreme rally to $ 28,000, breaking the $ 20,000 psychological level. It set ATH, reaching $ 28,537 today after short-term correction.
Today, another massive Bitcoin (BTC) investment took place. Skybridge Capital, the investment firm run by Anthony Scaramucci, has invested $ 182 million in Bitcoin, according to an investor brochure. According to the Securities and Exchange Commission filed documents, the firm is launching the SkyBridge Bitcoin Fund LP. It was also stated that the Bitcoin fund has already invested $ 25 million in Bitcoin. The brochure described Bitcoin as “digital gold” and even added that “it is better at being gold than gold.” Then added that BTC is an emerging asset class that has become less risky over time and has attractive supply and demand dynamics.
The firm, which has $ 9.3 billion in management, according to CoinDesk reports, is launching the SkyBridge Bitcoin Fund LP in the next year. Requiring at least $ 50,000, the new fund will be open to outside investors from January 4th. For the funding planned for the coming months, the partnership has been already formed with some crypto companies, including Fidelity Digital Assets and Silvergate. Scaramucci made his company the latest financial services giant to enter the Bitcoin adoption bandwagon.
Scaramucci made these words about the leading cryptocurrency in a recent interview on CNBC.
“You have to accept whether bitcoin is a store of value or not. There are still skeptics out there and that’s why I think we’re in the first inning. But after the research we’ve done … and given the monetary supply and the global central banking coordination right now, this will be a very strong asset class over the next decade.”
Investor interest and capital flows in recent months have had an extraordinary impact on the Bitcoin price. The bulls pushed the peaks higher, with consistent support. As BTC continues to gain traction, Grayscale Investment’s Bitcoin Trust has passed another milestone, reaching $ 16.3 billion in AUM. Bitcoin, which set a new record today, is trading at nearly $28,105 at the time of writing, according to CoinMarketCap data.
The biggest cryptocurrency, which has gained incredible value since January 1, 2020, has proved itself as a store of value so many times. Many analysts expect this trend to continue in 2021. When it comes to price prediction, they think the range will extend to thousands of dollars.
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