Skybridge – a multi-billion dollar investment firm led by Anthony Scaramucci has reportedly invested $25 million in Bitcoin (BTC).
According to reports, the SkyBridge Bitcoin Fund LP launched on January 4th, will be open to accredited investors for a minimum of $50,000.
As contained in the company’s investment brochure, the firm highlights the benefits of investing in Bitcoin, describing the cryptocurrency as an emerging asset with a less risky status; following growing interest from both retail and institutional investors.
“We believe Bitcoin is in its early innings as an exciting new asset class,” said SkyBridge founder and managing partner Anthony Scaramucci. “With the institutional quality custody solutions available today, we believe the time is right to allocate capital and provide our clients access to the digital assets space.”
Pitching further, the document discusses how low interest rates and excessive money printing have made scarce assets like Bitcoin, gold, and real estate more valuable at this time.
When compared directly to gold, the firm says “Bitcoin is better at being gold than gold.”
At this time, Skybridge joins the growing list of companies and institutions investing in Bitcoin.
Notable new institutional buyers include MassMutual Life Insurance firm with $100 million in BTC, investment firm Jefferies which says it’s selling gold for BTC.
Other big shots like MicroStrategy, Square Inc hold over 100,000 BTC as they lead the charge of institutional money in the industry.
Will interest from institutions push BTC price higher? Share your thoughts in the comments below.
Quote: “Bitcoin is leading a digital monetary revolution around the world. We believe the onus has shifted from ‘why are you investing in Bitcoin?’ to ‘how are you not investing in Bitcoin?” – Brett Messing, SkyBridge President and Chief Operating Officer.