SkyBridge Capital urges investors to hold onto Bitcoin

The SkyBridge Capital chief investment officer, Troy Gajewski, urged holding Bitcoin in the portfolio, despite gold’s strong prospects. Bloomberg reports.

“We are going to stick with Bitcoin and cryptocurrencies, because we see strong growth potential,” the top executive said.

According to Gajewski, record spending and US debt are contributing to the dollar’s devaluation and drawing investors to alternatives.

“It is highly likely that gold will continue its uptrend and hit new highs over the next year,” he added.

Gajewski stressed that SkyBridge Capital holds a modest stake in gold-mining stocks.

According to the chief investment officer, Since launch in December 2020, the company’s Bitcoin fund has risen 51.2%.

In January 2021, SkyBridge Capital forecast the price of the first cryptocurrency to rise above $500,000 and described the digital asset as a good long-term investment.

Founder and managing partner Anthony Scaramucci called Bitcoin an unequivocal leader. In his words, Bitcoin is better than gold.

In March, SkyBridge Capital and the consulting firm First Trust Advisors filed an application to launch a Bitcoin-based ETF. In late May, the U.S. Securities and Exchange Commission began reviewing the document.

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