SkyBridge Capital, which is a hedge fund, has opened a Bitcoin Fund on Monday, January 04, 2020. On Thursday i.e. January 07, 2020. SkyBridge’s Bitcoin Fund has attracted a huge number of investors, which led to an internet crash. A Zoom call was held on Thursday, where SkyBridge introduced its prospective investors to its million Bitcoin fund.
It has been recorded that around 6,000 people have attempted to join SkyBridge’s Bitcoin Fund, due to which their systems were overwhelmed. Now the investors are requesting the firm to schedule a second launch call and insisted to keep it on Tuesday, January 12, 2020.
It is revealed that any investor who wishes to join SkyBridge’s Bitcoin Fund, needs to come along with a minimum investment of $50,000. During the launch call, SkyBridge has mentioned that Bitcoin could be understood as a Digital Gold and that it is better than gold.
According to the announcement, SkyBridge’s Bitcoin Fund could be seen as a middleman between the Bitcoin market and all the high-stake investors. Bill Miller, an American investor, has said:
“Bitcoin’s supply is growing at around 2.5% a year, and the demand is growing faster than that and there’s going to be a fixed number of them.”
It has been seen that high-profile figures like Antony Scaramucci, CEO of SkyBridge, Bill Miller, and MicroStrategy’s Michael Saylor, are promoting Bitcoin at a very large scale. SkyBridge seems to be encouraging the potential investors to invest in its Bitcoin Fund by mentioning the recent Bitcoin gains. The firm also mentions the increase in institutional investors that are showing great interest in Bitcoin. The interest demonstrated by institutional investors has led Bitcoin to go past the $30,000-mark over the last month. This is one of the most important reasons why Bitcoin is seeing such huge growth.