A new Bitcoin Fund being introduced in the crypto industry by Skybridge Capital – a globally acclaimed crypto investment firm. Anthony Scaramucci of Skybridge Capital says institutional investment for Bitcoin is just a beginning of an avalanche. The rest of the investors are just re-organizing their investment funds.
Skybridge Capital had been an internationally acclaimed crypto investment organization. Just a few months back, Skybridge Capital had announced that it wanted to provide a Bitcoin fund to global Bitcoin investors. It was further told by Skybridge Capital that it was in the final stages of wrapping up the development of Bitcoin Fund. Furthermore, the fund will be sent live soon for the use by local and international clients/investors, informed the company.
Since then the investors as well as its customers were anxiously anticipating the fund to be made available to them.
It was on Tuesday, 22nd December,when Founder of Skybridge Investments, Anthony Scaramucci informed that the fund had been sent live. However, currently it had not been sent live for the use by intended investors, he said.
It was revealed that in order to kick-start the fund, US$25 Million had been put in as capital by Skybridge Investments. It was further explained by Scaramucci that the fund will be made available for the customers on 4th of January, 2021.
Scaramucci was being interviewed by CNBC recently and asked specifically about why the fund was launched now and not before. He said that although price of Bitcoin had climbed up considerably as of today but it is not late now. They have faith in the coin and the value of Bitcoin of US$ 23,000 is just the beginning, he said.
He also said that there are many potential investors who would be investing in Bitcoinwhen 2020 would end. The current investment drive from institutional sector is just the beginning, he stated. But he informed that ideally they would have wanted to go live some three months back. However, due to various reasons which were beyond their control, they could not do so, he said.
He explained further that according to his analysis Bitcoin is much more in value than as of now. The current value is just a fraction of what the value would be in the coming 4 to 5 years.
Scaramucci also informed that a team of analysts at Skybridge Investments had been tirelessly researching Bitcoin since 2018. He told that during this two years period they had learnt a great deal about the legendary coin. He further said that the company even took independent advices from certain notables from crypto industry such as Michael Saylor. Saylor advised them to introduce a product which is not only customer-oriented but could also be adopted instantaneously by customers.
He concluded by saying that there is only one way of understanding Bitcoin i.e. Bitcoin is a worthy store of value.