The investment firm SkyBridge, founded by former Goldman Sachs Vice President Anthony Scaramucci, is one of the last companies to want to invest in cryptocurrencies.
The company is putting together a hedge fund on Friday that includes an investment in Bitcoin. This emerges from a report by the US Securities and Exchange Commission. The details of the proposal:
“The Company may seek exposure to certain mutual funds or investment managers that may participate in derivative transactions such as total return swaps, options and futures. The Company and / or the mutual funds may also invest in companies that provide digital asset or other emerging technologies. “
After more than a decade of progress Several companies and individuals from the mainstream world have started a small but noteworthy entry-level trend in investing in cryptocurrencies, particularly bitcoin. Billionaire Paul Tudor Jones participated in the Bitcoin purchases earlier this year. He recently also described how early he felt that the investment opportunity still exists.
Despite SkyBridge’s interest, SEC approval is required before proceeding. The prospectus contained:
“Neither the Securities and Exchange Commission (the“ SEC ”), the Commodities Futures Trading Commission (the“ CFTC ”) nor any other US federal or state agency or regulator have approved or denied the merits of an investment in these securities or the accuracy or conveyed suitability of this proposal. “
The proposal included a section describing “digital assets” which briefly explained their use, risks and other points to consider. “Digital assets have no intrinsic value other than a method of exchange and are not based on tangible goods, collateral, contractual rights or legal obligations.”says the document.
“The values of digital assets are unlikely to be related or correlated with traditional economic or market forces, and the value of mutual fund investments in digital assets could decline rapidly, even to zero,” the suggested after the “enormous.” Price volatility “observed in cryptocurrencies compared to the norms given in conventional investments.
Bitcoin has hit relevant highs in the past few weeks and is currently one step away from its all-time high.