SkyBridge Capital Founder: ‘Very Confident’ That Bitcoin Is Going to $100K by 2024
On Friday (March 4), former White House Director of Communications Anthony Scaramucci, who is the founder and managing partner of global alternative investment firm SkyBridge Capital (“SkyBridge”), shared his latest thoughts on Bitcoin.
SkyBridge Capital is “an SEC-registered investment adviser and global alternative investment manager that invests in hedge funds, digital assets, private equity, and real estate.”
On 4 January 2021, Skybridge announced “the launch of the SkyBridge Bitcoin Fund LP, which provides mass-affluent investors with an institutional-grade vehicle to gain exposure to Bitcoin.”
The press release went on to say:
“Additionally, on behalf of its flagship funds, SkyBridge initiated a position, valued at approximately $310 million at the time of this release, in funds investing in Bitcoin during November and December 2020.“
Then on 24 October 2021, Scaramucci told CNBC’s Capital Connection:
“Do the homework on bitcoin, understand what it is… Anybody that does the homework … ends up investing into it. Look at Ray Dalio, a bitcoin skeptic, now a bitcoin investor... These are brilliant guys [who] did the homework and drew a conclusion that they needed to own a piece of bitcoin.“
Scaramucci mentioned that so far he has invested $1 billion into BTC:
“For me, I have over a billion dollars in Bitcoin now. I started accumulating that position last year. I think that this manifests itself into a gigantic asset class. This is equivalent, to me, to digital gold.“
However, he does not consider himself a Bitcoin evangelist :
“Guys like Michael Saylor of MicroStrategy think it’s better than that, could be 10 times gold. I’m not that optimistic about it. I am not a Bitcoin evangelist. I don’t think that Jesus and Moses got together and made a baby and named it Bitcoin; that’s not me. But I am an investor in this because I see the technical properties associated with it.
“Ultimately, this is a de-layering mechanism for society… It’s a ledger defined by math. And when you think about the history of money, a ledger defined by math that has a scarcity to it, where no politician or policymaker can corrupt it or add supply to it, I think is a fascinating thing. I think it will have a big position in the global economy over the next decade.“
Yesterday, Scaramucci shared his latest thoughts on crypto and the Fed during an interview with Melissa Francis on Magnifi Media by TIFIN.
With regard to Bitcoin (and crypto in general), he said:
And with regard to inflation and the Fed, he said:
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.