SkyBridge Capital announced its plans to launch a Bitcoin fund a little over two weeks ago, and accedited investors will be able to access the $25.3 million Skybridge Bitcoin Fund from January 4 onwards. Owned by infamous financier Anthony Scaramucci, who was also a former White House Communications Director before he was fired.
The investments firm is marketing Bitcoin to investors as an asset that surpasses the safe-haven asset gold. Judging from factors such as scarcity, transferability, storability, decentralization and more, SkyBridge has concluded that Bitcoin is an asset that is equivalent to gold.
For accredited investors in the US, this is an opportunity for exposure to the bellwhether cryptocurrency with a minimum ticket size of $50,000 via a familiar and safer channel – investment hedge funds. This is good news for investors who are looking to enter the Bitcoin market but are hesitant to do so due to the risks associated with the orange coin.
The spectacular Bitcoin bull run has driven plenty of both institutional and retail investors into the market, especially as more institutional players step into make their forays into the highly lucrative market. In the span of 6 weeks, Bitcoin prices have surged to $34,000 from under $20,000 at the start of December 2020.