Bitcoin Still Has More Upside Than Gold — says Skybridge Capital
According to Bloomberg last Sunday, the co-chief investment officer (CIO) and senior portfolio manager of Skybridge Capital, Troy Gayeski, indicates that he prefers Bitcoin to Gold. He believes that both assets are likely to pick up even though the Federal Reserve has reduced their purchases for the assets.
“We’re going to stick to Bitcoin and crypto because we just think there’s more upside.” — Gayeski elaborated.
He added that all fiat-currency alternatives, which have gone through substantial corrections recently, are in a much better place now to handle that eventual decline and gradual slowing of money-supply growth than they were as they were making higher-highs after higher-highs.
Last year December, Skybridge launched its bitcoin fund with $25 million. The fund’s assets under management had increased to $310 million by the time it opened up to the public in January 2021. Gayeski stated that the Bitcoin Fund has grown to 51.2% as of June 1 since its inception last year December.
Besides, Skybridge’s founder, Anthony Scaramucci, anticipated that Bitcoin will hit $100,000 before the year-end due to cryptocurrency’s heavy demand and Bitcoin’s diminishing supply.
Source: https://news.bitcoin.com/skybridge-capital-says-bitcoin-still-has-more-upside-than-gold/
