Bitcoin enhanced on all sides – The bull market that we have known for several weeks is due to several macroeconomic factors, but also possibly to a massive investment on the part of institutions. Today, the case of Anthony Scaramucci, a former member of the White House, is of particular interest to us.
The politician who cares about Bitcoin
According to The Block , Anthony Scaramucci , former Director of Communications for the White House in 2017, has already invested $ 182 million in Bitcoin, through its various investment funds. This placement is the result of a collaboration between various companies specializing in cryptocurrencies: Fidelity Digital Assets , Silvergate and SkyBridge .
As part of this investment, SkyBridge expects , among other things, a change in the traditional 60/40 portfolio ratio of stocks and bonds. This change in the ratio will act as a counterweight to bitcoin , as investors seek new opportunities. This change, according to SkyBridge, is linked to Federal Reserve actions and negative interest rates :
“Negative interest rates represent an existential risk for pension funds, insurance companies and endowments that must achieve targeted rates of return to meet their financial obligations. “
The emergence of institutional investments
Unlike the 2017 bubble, the current rise in Bitcoin’s price would not only be linked to investments by individuals, but above all to those of institutional investors , in particular hedge funds .
Among these, we find big names, such as Paul Tudor Jones or the company MicroStrategy .
Another Bitcoin “bull” is Scott Minerd , chief investment officer of Guggenheim Investments, which has $ 233 billion in assets under management (AUM).
Speaking to Bloomberg recently, Scott Minerd estimates that Bitcoin should be worth $ 400,000 . Its outlook is based on the scarcity of the asset and its relative valuation against gold as a percentage of GDP.