Skybridge Capital founder and avid Bitcoin supporter Anthony Scaramucci has taken him to social media to accommodate Bitcoin billionaire Philippe Laffont, and says the founder of Coatue Management understands that flagship cryptocurrency is the biggest investment in generations.
The highly respected founder of the $15 billion tech-centric hedge fund revealed that he had warmed to Bitcoin while speaking at the Crypto Summit in Coinbase in New York City.
In the past, Laffont has remained on the bystanders of Bitcoin enthusiasts due to persistent concerns about the excessive volatility of cryptocurrencies that traditional investors normally don’t want to tolerate.
Influential billionaires believe Bitcoin volatility is low enough to be considered a legitimate part of their investor portfolio.
Like many other prominent investors, Ruffont sees Bitcoin as a hedge against inflation.
Recommendations for modest allocations
In particular, Laffont also expressed regret over not investing in cryptocurrency previously.
Hedge fund Titan believes investors should allocate between 3% and 4% of their portfolios to major cryptocurrencies.
He added that investors are better in a small position that doesn’t cause too much anxiety.
Three types of clients
Villain: Those who trust him to make investment decisions, those who wonder why he missed Bitcoin, and those who are still afraid to get fully exposed to the code. According to Lahonto, the last group is “a dying population.”
$500,000 per bitcoin?
In late May, Skybridge Capital founder Anthony Scaramucci predicted that major cryptocurrencies could potentially surge to $500,000 due to government spending overhead.
As reported by U.Today last November, Scaramucci said even new investors were “early” for Bitcoin.