Skybridge capital, a US hedge fund, has invested as much as $182 million in bitcoin on behalf of its fund, according to coindesk. The company, which has $9.3 billion in assets under management, will launch a new bitcoin fund in January next year, according to a SEC filing on December 21. According to a previous report, skybridge capital invested $25.3 million in its bitcoin fund and opened it to the public in December. The new fund will be open to outside investors with at least $50000 from January 4. Skybridge is the latest financial services giant to be attracted by the world of digital assets, following Paul Tudor Jones’ Tudor Investment Corp and Renaissance technologies. Skybridge expects institutions to continue to drive the cryptocurrency market. Bitcoin’s attributes as an advanced version of gold, the maturity of the market and “multiple discussions with large asset allocators” will lead to more hedge funds, RIA and insurance funds allocating funds to this digital asset, the company said. Bitcoin’s appeal to investors is described in the company’s brochure promoting bitcoin funds. “Bitcoin is digital gold,” it wrote At a higher level, the handbook says bitcoin is an emerging asset class, and in recent years, with attractive supply and demand dynamics, bitcoin’s risk has become lower. It points out that bitcoin is becoming more and more popular in retail and institutional settings, and is realizing value through network effects. In addition, the paper points out that low interest rates and “unprecedented money printing” are responsible for the premium on “scarce assets such as gold, real estate, art and bitcoin”. One page of the pamphlet highlights “the dignity of bitcoin: Wall Street embraces bitcoin”, citing companies such as BlackRock and bank executives such as Citibank and JP Morgan. Skybridge believes that hedge funds, listed company treasurers, insurance companies, pension funds and banks and brokers will also invest in this area. “Bitcoin is going to be a very strong asset class for the next 10 years,” Anthony scaramucci, one of the founders of skybridge, said in an interview with CNBC. Photo source: skybridge capital, author Amy Liu, this article is from bitpush.news, the source of reprint should be noted.