Anthony Scaramucci’s multi-billion-dollar investment firm SkyBridge Capital has reportedly invested $182 million in Bitcoin (BTC).
The firm’s SkyBridge Bitcoin Fund LP will launch on January 4th, with a minimum $50,000 allocation required for investors, reports CoinDesk.
[adinserter block="1"]In an investor brochure, the $9.3 billion asset management firm touts the upsides of investing in Bitcoin, calling the flagship cryptocurrency an emerging asset class that is now less risky with growing interest from both retail and institutional investors.
The document says Bitcoin is “better at being gold than gold”. It also cites that low-interest rates and “unprecedented money printing” contribute to the premium placed on scarce assets like gold, art, real estate, and Bitcoin.
Investments in Bitcoin are gaining momentum among traditional financial institutions.
Life insurance firm MassMutual is also investing $100 million in BTC. In addition, $51 billion global investment firm Jefferies is selling gold for BTC.
MicroStrategy, the largest independent publicly-traded business intelligence company, now holds more than $1 billion in Bitcoin after making several purchases throughout the year.
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