{"id":453048,"date":"2020-12-24T10:00:52","date_gmt":"2020-12-24T10:00:52","guid":{"rendered":"https:\/\/ktsl888.com\/?p=453048"},"modified":"2024-06-11T14:12:17","modified_gmt":"2024-06-11T14:12:17","slug":"wall-street-veteran-kickstarts-own-bitcoin-fund-with-25m-investment","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/wall-street-veteran-kickstarts-own-bitcoin-fund-with-25m-investment\/","title":{"rendered":"Wall Street Veteran Kickstarts Own Bitcoin Fund With $25m Investment"},"content":{"rendered":"
Wall Street has been all over Bitcoin over the past few months due to the growth in the need for an inflation hedge and a relative stagnation in the price of gold relative to other asset classes. This much was confirmed just recently when a Wall Street veteran and former White House staffer launched a BTC fund with his own $25 million investment, showing that there is demand for the leading crypto asset.<\/p>\n
According to Yahoo Finance<\/a>, Anthony Scaramucci, the founder of $9.2 billion fund-of-funds SkyBridge Capital, has launched a Bitcoin fund to enable registered investment advisors (RIAs) to invest in BTC.<\/p>\n SKyBridge, which will be operating the fund, recently filed a Form D with the Securities and Exchange Commission for this new fund.<\/p>\n To kickstart the fund and show that he has faith in it, founder Scaramucci has put $25 million of his own capital into the fund.<\/p>\n He thinks that this fund will allow a broader number of investors to gain exposure to BTC. The issue is that many institutional players or even retail traders find it hard to invest in BTC.<\/p>\n In a sign of continued Wall Street support of Bitcoin, the amount of coins on exchanges has been in a steep decline. Referencing the chart seen below, Rafael Schultze Kraft, CTO of Glassnode, recently stated<\/a>:<\/p>\n \u201c#Bitcoin is in a supply and liquidity crisis. This is extremely bullish! And highly underrated. I believe we will see this significantly reflected in Bitcoin\u2019s price in the upcoming months. Let\u2019s take a look at the data.\u201d<\/p><\/blockquote>\n <\/p>\n #Bitcoin<\/a> is in a supply and liquidity crisis.<\/p>\n This is extremely bullish! And highly underrated.<\/p>\n I believe we will see this significantly reflected in Bitcoin's price in the upcoming months.<\/p>\n Let's take a look at the data.<\/p>\n A thread \ud83d\udc47\ud83d\udc47\ud83d\udc47 pic.twitter.com\/vx6rJmiloE<\/a><\/p>\n — Rafael Schultze-Kraft (@n3ocortex) December 21, 2020<\/a><\/p><\/blockquote>\nRelated Reading: Tyler Winklevoss: A \u201cTsunami\u201d of Capital Is Coming For Bitcoin<\/a><\/h6>\n
Wall Street Support Swells<\/strong><\/h2>\n
Chart of BTC's price action over the past decade with an on-chain analysis of btc on exchanges from Rafael Schutlze Kraft, CTO of Glassnode\r\nChart from Glassnode, a crypto data source<\/pre>\n
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