The chief investment officer of global investment firm Skybridge Capital says bitcoin still has more upside than gold. While expecting both gold and bitcoin to rally, he said his hedge fund is sticking to bitcoin.
Asset Manager Skybridge Prefers Bitcoin to Gold
Troy Gayeski, co-chief investment officer (CIO) and senior portfolio manager at Skybridge Capital, a $7.5 billion hedge fund, says gold is good but bitcoin is better, Bloomberg reported Sunday. He believes that both gold and bitcoin are likely to rally even as the Federal Reserve moves to taper asset purchases, elaborating:
We’re going to stick to bitcoin and crypto because we just think there’s more upside.
While acknowledging that bitcoin has more volatility than gold, the CIO noted: “you’re going to capture a little bit more juice than you will in gold from that same phenomenon.”
The price of bitcoin soared to the $65,000 level in April before plunging. It currently stands at $32,512 based on data