The founder and managing partner of SkyBridge Capital, Anthony Scaramucci, in an interview with Decrypt explained why all his attention is currently focused on the first cryptocurrency.
“I am especially focused on Bitcoin. I am not going to move to Dogecoin, Ethereum, other cryptocurrencies or digital assets; I am with the leading leader,” he said.
Scaramucci noted that digital gold accounts for a large portion of the cryptocurrency market’s capitalization; thousands of competitors have emerged, but none has managed to challenge the leadership.
SkyBridge began investing in Bitcoin in the autumn of last year, and by December investments reached $182 million. In January the firm launched a Bitcoin-based fund with assets of $310 million.
Another reason for the exclusive focus on Bitcoin, the financier said, is investor skepticism about cryptocurrency investments. There are better odds of convincing them to invest in the flagship than in altcoins, he believes.
“For now, the number one goal is to try to win over skeptics. I think even bringing them into Bitcoin will be difficult enough. You know the acronym FUD: fear, uncertainty and doubt. Yet we manage money for many retrogrades,” added Scaramucci.
To promote the cryptocurrency, the SkyBridge founder uses the tactic of “information saturation.” Together with chief operating officer Brett Messing they regularly host live chats about Bitcoin — its surges and declines, risk management, and the appearance of new corporations in the industry, such as MicroStrategy or Tesla.
“I am half parrot, and half woodpecker, so I can peck at your brain with greater persistence until your head explodes. I can repeat the same thing again and again with great enthusiasm,” emphasised Scaramucci.
He did not rule out expanding his focus to other digital assets beyond Bitcoin in the future.
Earlier Scaramucci said that regulation facilitates the investment appeal of the leading cryptocurrency, and Brett Messing expressed confidence that institutions are capable of pushing the asset’s price to $500,000.
Subscribe to Forklog’s channel on YouTube!