Tiger Global Management invests $25 million in its Bitcoin fund! Founder: This will be the most powerful asset in the next decade

The prominent hedge fund Skybridge Capital has established the latest Bitcoin fund "SkyBridge Bitcoin Fund LP" and has invested $25 million in it. They stated that this emerging asset could potentially increase in value by 2 to 3 times from its current price levels.

SkyBridge Capital Invests $25 Million in Bitcoin Fund

Anthony Scaramucci, the founder of the renowned hedge fund SkyBridge Capital, revealed in an interview with CNBC that the firm has invested $25 million in its newly established Bitcoin fund, the "SkyBridge Bitcoin Fund LP," which will be open to external investors on January 4, 2021. Scaramucci stated:

"After conducting research, we believe Bitcoin is a store of value tool. Given the current currency supply and the collaboration of global central banks, this will be a very strong asset class over the next decade."

Scaramucci added that over the past two and a half to three weeks, Bitcoin has been consistently breaking new highs, indicating that he sees significant room for growth and believes Bitcoin has not yet reached its peak.

However, SkyBridge Capital's Bitcoin fund will only be open to accredited investors, meaning users who meet the SEC's qualified investor standards (individuals with an annual income of $200,000 or institutions with assets of $5 million) can participate. Furthermore, to prevent investors from quick trading, the Bitcoin fund will come with a three-week lock-up period. Scaramucci stated that he believes this emerging asset could potentially increase in value by 2 to 3 times from current price levels and he does not want his clients to miss out on this profit opportunity.

SkyBridge Capital and Bitcoin

SkyBridge Capital's interest in Bitcoin dates back to November this year. According to reports, the firm submitted two investment authorization amendment documents to the SEC, seeking approval for its $3.7 billion funds (Multi-Strategy Series G and SkyBridge G II Fund) to hold "long and short positions in digital assets," stating that these digital assets may be acquired through "unregulated exchanges located outside the U.S."

A month later, on December 22, SkyBridge Capital submitted a new Form D application to the U.S. Securities and Exchange Commission (SEC) to obtain an exemption to issue unregistered securities for its latest Bitcoin fund, the "SkyBridge Bitcoin Fund LP."

MicroStrategy Driving the Bitcoin Bull Market

Furthermore, Anthony Scaramucci revealed that his conversation with MicroStrategy founder Michael Saylor at the SkyBridge conference (SALT) was one of the main reasons that led him to invest in Bitcoin. Apart from holding a significant amount of Bitcoin, Michael Saylor and his company have played a crucial role in this bull market, influencing many institutions and traditional investors to enter the Bitcoin market.

According to previous reports, venture capitalist Shervin Pishevar tweeted on the afternoon of December 17 that after listening to Michael Saylor's presentation, he believed that the price of Bitcoin would one day reach $100,000.

"Tonight I met Michael Saylor in Miami, and he convinced me to believe that the price of Bitcoin will one day reach $100,000. Just as he did with MicroStrategy's treasury, all future asset reserves will be linked to Bitcoin. Michael Saylor is one of the smartest people I know, and I listened very carefully to his insights."