Bitcoin vs Gold & Silver Episode 4 - Scaramucci Launches Bitcoin Fund

#Bitcoin #CryptoCurrency #GoldAndSilver

Bitcoin vs Gold & Silver Episode 4 - Scaramucci Launches Bitcoin Fund

Today is Sunday 27th December 2020 and we are publishing the fourth episode in a new series of Bitcoin vs Gold & Silver a series which will be published each Sunday for the next few months.

Bitcoin vs Gold and Silver a fascinating subject becoming increasingly more relevant.

Bitcoin vs Gold & Silver Episode 3 – Disadvantages
https://www.youtube.com/watch?v=OgJw86leyUw

Bitcoin vs Gold & Silver Episode 2 – What is it & How Does it Work?
https://www.youtube.com/watch?v=tDFMrpVYdf0

Bitcoin vs Gold & Silver - Episode 1 – Introduction
https://www.youtube.com/watch?v=w8MtJ71_ltg

A quick recap, in Episode 1 we explained why we launched this series and why people found bitcoin attractive.

In Episode 2 we confirmed that the Equity market is worth approximately $85 trillion the tradeable gold market is approximately worth $1.5 trillion and the tradeable silver market just $60 billion dollars. While Bitcoin market capitalisation stands at $500 Billion as the bitcoin price is $26,600

We also covered:

What is Bitcoin?
How does Bitcoin work?
How do people get Bitcoins?
How are new Bitcoins created?
Why are Bitcoins valuable?
Why do people want Bitcoins?
Is it secure?

In Episode 3 we highlighted a non-exhaustive list of the disadvantages of bitcoin which are similar to other crypto currencies. These included:

1. Security
2. Reputational Risk due to black market
3. Susceptible to high price volatility
4. No Chargebacks or refunds when using bitcoin
5. Potential to Be Replaced by Superior or Government backed and
supported Cryptocurrency
6. Environmental Ills of Bitcoin Mining -
7. No intrinsic value.

We mentioned earlier Former White House Communications Director Anthony Scaramucci. A man who runs a global investment firm based in New York City, called SkyBridge Capital with over $7 billion worth of assets under management and providing Anthony Scaramucci with an estimated personal net worth of $200 million.

In one of our earlier episodes we pointed out that Anthony was going to move into the bitcoin space, very shortly and potentially beginning his own fund. This is exactly what he has done and made public just 4 days ago placing $25 million into it and the fund being open to other investors starting 4th January 2021.

Fidelity Digital Assets is the bitcoin "back office" and "storage mechanism," and Scaramucci further claimed that Skybridge is running a full bitcoin node.

Scaramucci said his fund's structure will give investors exposure to bitcoin's net asset value while avoiding the premiums extracted by the Grayscale Bitcoin Trust (GBTC). (Grayscale is a CoinDesk sister company.)
"This will be a way for us to democratize bitcoin, like we did the hedge fund industry a decade ago," he said.

Business Insider quoted:

After bitcoin's 200% rally this year, investors may be hesitant to buy the cryptocurrency right now in fear that a post-rally pullback is on the way. But Scaramucci said bitcoin is in its "early innings," and he wants to get in before the price soars even higher.

"We could be at the precursor of an avalanche of institutional investors heading in," Scaramucci said in a Tuesday CNBC interview. He added there may be a large swath of investors buying bitcoin in the first quarter of 2021 because they didn't want to put it on their balance sheets in 2020.

Next week we shall look at the intrinsic nature of gold and silver and why we regard it as a superior asset class compared with bitcoin even though its price performance might suggest differently.

Important Links and videos:

Join us at:
https://www.illuminatisilver.com/sign-up-today/

Bullion Vault – Buy Gold & Silver
http://bit.ly/bullionvaultillumsilv

Richard & Greg – Discussion: Debate & Argument YouTube Channel
https://www.youtube.com/watch?v=MLWxmXToFCg&t=3s

Bitcoin/Crypto Training
https://bit.ly/3pNjaug

Rich Dad Summit from $1
https://bit.ly/39uZfKD

Gold, Silver and Rare Coins:
https://amzn.to/2PVinHw - (US & Overseas)
https://amzn.to/2EW8RO2 - (UK)

Stack Silver Get Gold:
https://amzn.to/37yIkUc - (UK)
https://amzn.to/33ca2md - (US & Overseas)

Bitcoin For Dummies 1st Edition
https://amzn.to/2VKUSmE

Cryptocurrency Investing For Dummies 1st Edition
https://amzn.to/36Nhidt

Cryptocurrency Mining For Dummies 1st Edition
https://amzn.to/2JREdv2

The Bitcoin Standard: The Decentralized Alternative to Central Banking
https://amzn.to/3lNieTs

Blockchain Bubble or Revolution: The Present and Future of Blockchain and Cryptocurrencies
https://amzn.to/3gdTjao

The Basics of Bitcoins and Blockchains: An Introduction to Cryptocurrencies and the Technology that Powers Them
https://amzn.to/39KqPUj

News Theme 2 by Audionautix is licensed under a Creative Commons Attribution license (https://creativecommons.org/licenses/by/4.0/)
Artist: http://audionautix.com/