With The Latest From The Crypto World, Skype Cofounder Is Investing In Crypto, As Also Intercom Chairman Who Is Taking The Jump Onto The Bitcoin Wagon.
Why are tech executives taking the leap onto the bitcoin bandwagon? What is Skybridge Capital up to? Read all the details here.
What About Tech Executives?
It was observed that two of the well-known tech executives revealed they have been dabbling in bitcoin and other cryptocurrencies this week.
Detailing that he held bitcoin and Ethereum in his finances was Skype cofounder Jaan Tallinn and tweeting on Sunday that he’s jumped firmly onto the bitcoin wagon was the Intercom co-founder Eoghan McCabe in a recent interview.
Having revealed that they hold a fascination for cryptocurrencies like bitcoin and Ethereum was in 2020 a number of popular tech executives and CEOs from giant firms. Thereafter along with those of ETH and BTC, on Friday it was then that the cofounder of the telecommunications application Skype discussing a couple of donations he had made in the past. Sending 350 ETH ($158k) to a London-based organisation Faculty Al was Skype’s cofounder Jaan Tallinn and he donated 50 BTC ($850k) to the group in March 2020.
To develop an artificial intelligence (AI) system that detects terrorism through social media, Faculty AI won $800k from the U.K. Home Office.
As he keeps a majority of his wealth in crypto assets, this is the reason why he donated cryptocurrency to the organisation as Tallinn explained during his interview.
If he cashed out the digital assets, he would be liable for capital gains which is why he opted to donate the crypto directly. Faculty AI’s annual accounts note that the company sold roughly $144k from the stash of Ethereum in 2019 according to the recent interview.
Taking The Leap Is Intercom Cofounder
Another well-known executive told his Twitter followers on Sunday that he’s jumped into the bitcoin space following the interview with Tallinn.
Tweeting about the decentralised crypto asset bitcoin was the chairman and co-founder of Intercom on November 15, 2020. After messing around with the digital currency for years, Intercom’s Eoghan McCabe disclosed he is holding bitcoin.
McCabe tweeted that he would like announcing that after years of dabbling finally, he has jumped firmly onto the bitcoin wagon. McCabe noted that he has been listening to the Pomp Podcast and one in particular that features the bitcoin evangelist Robert Breedlove in a tweet that followed. In another tweet, McCabe added mad love for all of the bitcoin freaks. As a few individuals told him that he was still in the early adoption phase of bitcoin, a great number of bitcoiners welcomed McCabe into space.
Here comes quite a number of those prominent executives getting into the cryptocurrency space and thereafter discussing the benefits of bitcoin in 2020, the Tallinn and McCabe news follows. Jumping onto the bitcoin wagon this year were executives like billionaire Stanley Druckenmiller, the ‘Bond King’ Jeffrey Gundlach, the well-known fund manager Bill Miller, billionaire investor Paul Tudor Jones, and even the actor Kevin Hart. When it comes to the innovation provided by the crypto economy, alongside this, US Senator Cynthia Lummis sees a lot of promise.
More positively, even the traditional crypto naysayers are starting to discuss bitcoin. Institutional interest has been moving from gold exchange-traded funds to bitcoin as former bitcoin doubter JPMorgan’s recent analysis shows. Admitting that BTC might be a store of value in a recent interview with Yahoo Finance was the infamous BTC hater Nouriel Roubini. Found here are more likely a whole lot of the popular tech and investor luminaries that will be joining the cryptocurrency revolution with the way things are going. It also holds some former haters.
Holding Positions In Bitcoin Is Scaramucci’s Billion-Dollar Mega Hedge Fund Skybridge
Currently being watched is the giant global investment firm called Skybridge Capital that has explained that the fund Skybridge G ll may be invested in digital currencies like bitcoin in thereby which is a filing registered with that of US Securities and Exchange Commission. As also when it was the New York-based company coming with $7.7 billion assets under management it told the US regulator that Skybridge investment funds may hold long and short positions in digital assets on November 13.
Telling the SEC on Friday it may invest in digital assets like bitcoin was Skybridge Capital another well-known wealth manager with over $7.7 billion AUM. Including a large summary of how Covid-19 is affecting the economy, the SEC filing discusses the overall assessment of the firm. Skybridge notes the G II Fund may enter the crypto economy via a myriad of angles buried deep in the pages of certain assets, derivatives, ETFs, ETNs, and other investment vehicles.
Skybridge might also invest in other types of cryptos alongside bitcoin (BTC) as not only did the fund say it may hold long and short positions in digital assets. The digital assets could decline rapidly including to zero as the filing even highlights. Skybridge could invest in other areas of the cryptocurrency universe like crypto companies even so.
The SEC papers thereby note that investing in securities of companies related in whole or in part to digital assets or digital asset technologies including digital asset miners, payment technologies, digital security, or crypto trading exchanges or otherwise that have direct as well as indirect exposure thereby to emerging technologies.
When it is now, that Skybridge tells the regulator that it was similar to the more chances of crypto-asset prices dropping to zero, where there are some of the companies where the fund invests in could be rapidly eclipsed by newer and more disruptive technological advances in a kind of similar fashion. Skybridge then tells the SEC that it fully understands that the regulatory landscape for digital assets is undefined and rapidly developing towards the end of the filing statements about digital assets.
Filing details, the Skybridge then says, subject to significant uncertainty, regulation of digital assets can vary significantly among non-U S or US federal, state, and local jurisdictions.
Concluding The Discussion On Skybridge Capital
By Anthony Scaramucci, Brett S. Messing, Raymond Nolte, and Troy Gaveski, Skybridge Capital was founded in 2005. Explaining that when he returned to Skybridge in 2018 the company did a deep dive into the digital assets space especially bitcoin, as Scaramucci recently discussed digital currencies in an interview.
As Scaramucci further explained, he is a great fan. The managing partner then said he believes that blockchain has a future, as well as the digital assets like bitcoin, have a future.