The firm, which has $9.3 billion under management, is launching the “SkyBridge Bitcoin Fund LP” in January, according to Securities and Exchange Commission documents filed on Dec. 21, as CoinDesk reported.
“Bitcoin is digital gold,” it reads. “It is better at being gold than gold.”
On a high level, the brochure says bitcoin is an emerging asset class that has become less risky in recent years with attractive supply and demand dynamics. It notes that bitcoin has seen growing retail and institutional adoption, leading to value via network effects. Adding to that, the document cites low interest rates and “unprecedented money printing” as contributors to the premium being placed on “scarce assets like gold, real estate, art and Bitcoin.”
According to the brochure, the SkyBridge believes that hedge funds, public company treasurers, insurance companies, pension funds, and banks and brokerage firms will also be investing in the space.
“You have to accept whether bitcoin is a store of value or not,” said Anthony Scaramucci, one of the founders of SkyBridge, in an interview on CNBC. “There are still skeptics out there and that’s why I think we’re in the first inning, but after the research we’ve done we believe it is, and given the monetary supply and the global central banking coordination right now this will be a very strong asset class over the next decade.”