SkyBridge Capital CIO Troy Gayeski thinks two cryptocurrencies, Bitcoin and Ethereum, are leading the race as a store of value. The SkyBridge Capital official believes that Bitcoin (BTC) and Ethereum (ETH) will be leading assets in terms of a store of value. He further stated that the primary cryptocurrency will become the main financial instrument for process use.
Troy Gayeski praises two cryptocurrencies
Despite the downturn in the crypto market, SkyBridge Capital’s CIO Troy Gayeski praised Bitcoin as an asset class and highlighted its benefits. In a recent interview with Bloomberg, Gayeski reminded that SkyBridge Capital invests not only in the primary cryptocurrency, but also in Ethereum.
According to him, the two largest cryptocurrencies will be the most preferred options for value storage in the future. Additionally, Gayeski acknowledged that the price of BTC is volatile, but raised his hopes that it would eventually become the “market leader in terms of transaction usage”:
It will be a volatile entity, but it continues to be uncorrelated with other entities. We think the risk-reward situation is now gone again without top error.
The Bitcoin advocate finds the supply shock in the crypto market very similar to what happened in October and November 2020. Gayeski also explained that SkyBridge Capital has always wanted to generate different returns from equities and fixed income and therefore chose to invest in the crypto market. Furthermore, the CIO argued that the institutional adoption cycle for BTC continues.
What are other opinions about the future of BTC?
Cryptocoin. com, about a month ago, the founder of SkyBridge Capital, Anthony Scaramucci, brought up another perspective on the future of Bitcoin. At the time, he predicted that the price of the pioneer cryptocurrency as fiat currency would reach new heights in the next 24 months:
I’m pretty sure we’ll be sitting here again in a year or two from now and talking about this volatility, but you’d be surprised at BTC’s upside over the next 24 months.