Anthony Scaramucci’s Skybridge Capital has just contributed as much as $182 million to bitcoin in a bid to improve the interest of its investment fund. The fund which has an arranged public introduction for another Bitcoin store scheduled for a month from now, has partnered with various crypto firms including Fidelity Digital Assets and Silvergate.
In another segment, the firm said it had contributed $25.3 million for the new fund, which will be opened to the general population in December. It’s not satisfactory if there is an overlap between these two contributed sums.
Scaramucci’s is the most recent financial institution titan to be attracted to the digital asset world. continuing in the strides of Paul Tudor Jones’ Tudor Investment Corp and Renaissance Technologies, which have made comparative portions.
Skybridge’s Future Foresight
The firm expects a great change in the conventional 60/40 portfolio proportion of stocks and bonds will fill in as a tailwind for bitcoin. This is because investors are searching for new investment openings. This move, as indicated by Skybridge, is attached to the activities of the Federal Reserve and negative Interest rates.
The deck explains by saying, “Negative interest rates represent an existential risk to pension funds, insurance companies, and endowments that need to achieve targeted rates of return to meet financial obligations.”
They believe a redistribution of assets by such establishments from the fixed-pay market to bitcoin would produce a considerable expansion in the cost of bitcoin.