Skybridge Capital to start investing in Bitcoin

Skybridge Capital has filed an amendment with the SEC which will allow their $3.6 billion fund to start investing in Bitcoin. This amendment was filed on November 13th 2020.

skybridge capital bitcoin

Their document filed with SEC says the following.

Digital Assets investment funds may hold long and short positions in digital assets. Digital Assets, also known as virtual currencies, cryptocurrencies, coins, tokens or similar terms, are assets that are issued and / or transferred using technological innovations such as distributed ledger or blockchain technology and include, but not limited to, Bitcoin.

This clearly means that Skybridge Capital is interested not only in bitcoin but also in other altcoins.

However, they also mention in the same very document that digital assets have no intrinsic value other than as a method of exchange and are not based on tangible commodity, security, contractual right or legal obligation.

We need to figure out a way to change this idea of “intrinsic value”. Nothing has intrinsic value, and many institutions have yet to understand that a digital monetary good is the value itself.

Crypto Coin Daddy believes they will be buying as soon as they can. It’s similar to Microstrategy. They announced that they might buy bitcoin and within a week or 2 of that, they had already completed their purchase.

 

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