Anthony Scaramucci, head of SkyBridge Capital and former communications director of the White House, believes that the value proposition of Bitcoin has greatly improved now that governments have discussed much of the digital asset-related risks.
Scaramucci and fellow SkyBridge executive Brett Messing, in an opinion article published on CNN, claim that Bitcoin has become a promising option for long-term investors finding relief from inflation. The writers also argue that carrying Bitcoin is much less risky today than it was when regulations and technology were only underdeveloped a few years ago.
The rise of Bitcoin “caused government and institutions to step in and address many of the risks associated with the digital currency,” the writers wrote, responding to the Office of the Currency Comptroller’s decision to allow banks to offer cryptocurrency services.
They proceeded: “[…] increased regulations, improved infrastructure and access to financial institutions — like Fidelity — that hold investors’ money have made bitcoin investments as safe as owning bonds and commodities like gold, which are also used to balance portfolios.”
When it filed a request with the U.S., SkyBridge Capital made a big splash last month. Securities and Exchange Commission to launch a hedge fund for Bitcoin. A few weeks later, the SkyBridge Bitcoin Fund LP began, with Fidelity operating as custodian and Ernst & Young handling the auditing.