$ 9.3 Billion Fund Could Start Buying Bitcoin

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Bitcoin (BTC) price is trading at $ 16,614 as of press time and it managed to refresh the record of the year a few hours ago. This incredible rise in the BTC price, which manifested itself as of November, could gain much more momentum with the news from Skybridge Capital, a giant $ 9.3 billion investment fund. Perhaps Skybridge Capital’s start to invest in Bitcoin could result in an all-time record of over $ 20,000.

In fact, it has been seen that the BTC / USD parity has been on the rise with the massive investments of institutional investors and the media effect it created. More than $ 400 million in Bitcoin investment made by MicroStrategy, then Square participated with a share of $ 50 million.

Will Skybridge Capital buy Bitcoin?

Now, Skybridge Capital’s statement to the US Securities and Exchange Commission (SEC), which holds $ 9.3 billion under its management, indicates that the Bitcoin price may rise soon. Skybridge Capital’s statement dated November 13, 2020 states that mutual funds can open short or long positions on digital assets.

In addition, it is stated in the related statement that digital currencies include but are not limited to Bitcoin. Although Skybridge Capital shows that it can invest in more leveraged transactions and derivatives with this statement, it is also possible that the fund will invest in Bitcoin.

Monthly closing is very important

In fact, more than one institution is currently evaluating the possibility of investment in the cryptocurrency industry just like Skybridge Capital, and it may be its monthly closing. Famous commodity analyst Peter Brandt also stated earlier this month that institutional investors attach great importance to the monthly closing.

Brandt had implied that asset valuation after the monthly close was one of the main criteria institutional investors use to evaluate their investments and assets. Skybridge Capital’s already making such a statement to the SEC raises predictions in this direction.

In addition, the statement that investors turned their eyes to risky assets with the vaccine news coming one after another came from gold advocate Peter Schiff himself. In other words, it is quite possible that giant funds such as Skybridge Capital will increase their BTC investments in the short term.


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