Anthony Scaramucci, founder of the $ 9.2 billion hedge fund SkyBridge Capital, who served (if only briefly) as communications director in the Trump administration, believes Bitcoin (BTC) could „easily“ reach $ 100,000 in a year. Forbes reports.
„You will orient yourself towards Bitcoin Bank, that is, in your mosaic of stocks and bonds and alternatives and gold there will be a few percentage points that have to do with the digital currency,“ said Scaramucci.
“And since Bitcoin is the winner of this battle, it will likely be Bitcoin. So if you are not a Bitcoin investor, you are effectively short on Bitcoin. “
Last December, Scaramucci’s fund itself filed a Regulation D form with the US Securities and Exchange Commission for a crypto fund. The SkyBridge Bitcoin Fund LP opened to investors in January, with SkyBridge initially pouring $ 25 million of its capital into it.
„One of the things we’ve tried to do is democratize the hedge fund industry.“ Buying Bitcoin was „still a bit difficult,“ said Scaramucci at the time.
„So, we think there is a very big move for Bitcoin in the next five to ten years.“
Today, SkyBridge’s Bitcoin fund is „approaching $ 100 million“ in assets under management, Scaramucci explains, while Bitcoin has „a very big future“ ahead of it. In total, SkyBridge currently holds approximately $ 500 million in Bitcoin through its investments.
“Performance was shattered by the pandemic in March last year. The SkyBridge Series G fund is up 33% since April 1, and part of that was frankly the move in Bitcoin that we took advantage of in the fourth quarter of last year, ”said Scaramucci.
However, he also comments that Bitcoin is still a volatile asset that is prone to unpredictable price movements. Scaramucci:
„Some of what you’re seeing this week is short squeeze, very similar to what would have happened to Tesla where the non-believers in Tesla were out of their shorts, the same thing is kind of happening here with Bitcoin“
As has been widely reported, Elon Musk’s tech company Tesla revealed on Monday that it had bought $ 1.5 billion in Bitcoin.