Skybridge Capital Fund has reiterated its support for Bitcoin. The $7.5 billion funds associated with Anthony Scaramucci have announced that while it is bullish on Gold, it likes Bitcoin more.
According to the fund’s co-CIO, Troy Gayeski, both Bitcoin and Gold will keep gaining in the near term. That’s because of inflation concerns as the Federal Reserve slows down on asset purchases.
However, Skybridge Capital believes it can make more from Bitcoin than it can from Gold. Both Bitcoin and Gold have made substantial gains year-to-date, with Bitcoin hitting an all-time high of $64k before the correction.
On its part, Gold experienced a correction in March but has been gaining since then. Skybridge Capital believes that the rally is likely to run into 2022.
The rationale by Skybridge Capital is that Bitcoin is a new and exciting asset class. As such, it is attracting new investors who want some exposure to an alternative asset class. For this reason, the fund expects it to keep outperforming gold in gains going into the foreseeable future.
The fund also expects both assets to keep gaining as the USD faces an ever-greater risk of value decline. Inflation fears, among other factors, put the dollar’s near-term value in doubt compared to BTC and Gold.