SkyBridge Capital is a hedge fund based in New York. It is a hedge fund with over $7 billion in Assets under Management (AUM) and was founded by Anthony Scaramucci. Scaramucci may be known to some as the short-lived communications director of the White House under President Donald Trump. He can also be seen a lot on American television as a political commentator, but originally a real investor.
Co-Chief Investment Officer of his fund, Tory Gayeski, recently stated that his confidence in bitcoin (BTC) as an investment is high. He states that he and his hedge fund are not against gold as an investment per se, but consider bitcoin, as a digital variant of gold, a much better option.
He stated this in an interview with Bloomberg. Bitcoin and gold are often compared as potential investment and store of value. Even former United States Treasury Secretary Lawrence Summers indicated that cryptocurrencies may just remain a global phenomenon in the markets in the same way that gold is. Gayeski is very clear in his position. He and his hedge fund prefer bitcoin. Despite the higher volatility, Bitcoin has more growth potential, according to Gayeski.
Gayeski also cites the value of gold in relation to the US dollar. He believes gold will eventually outperform the dollar.
Scaramucci and his hedge fund SkyBridge have often spoken highly of bitcoin since the latter part of 2020. Scaramucci himself still believes in a bitcoin price of above $100,000 by the end of this year. According to him, bitcoin is even as safe an investment as bonds.
What the price of bitcoin will do remains of course unpredictable. However, if we are to believe Scaramucci and Gayeski, the future of bitcoin looks very bright. We will undoubtedly hear more about SkyBridge, Scaramucci and their bitcoin investments in the future.