Former Trump Ally Anthony Scaramucci Foresees More Pension Funds Investing In Bitcoin: 'We Are Still Early'
Portfolio Pulse from Benzinga Neuro
Anthony Scaramucci, founder of SkyBridge Capital, predicts more pension funds will invest in Bitcoin, following the State of Wisconsin's recent investment in BlackRock’s iShares Bitcoin Trust and Grayscale’s Bitcoin Trust. Scaramucci believes institutional adoption is underway due to recent regulatory approvals.
May 18, 2024 | 8:06 am
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The State of Wisconsin Investment Board has invested approximately $163 million in Grayscale’s Bitcoin Trust, reflecting a trend of institutional adoption of Bitcoin.
The investment by a state pension fund in GBTC indicates growing institutional trust in Bitcoin, which could lead to increased demand and higher prices for the trust.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The State of Wisconsin Investment Board has invested approximately $163 million in BlackRock’s iShares Bitcoin Trust, indicating growing institutional interest in Bitcoin.
The significant investment by a state pension fund in IBIT suggests increased institutional confidence and potential for further investments, likely boosting the trust's value.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80