<p><img src="https://static4.businessinsider.com/image/6013b60c6dfbe10018e00a90-1024/GettyImages-825078074.jpg" border="0" alt="GettyImages 825078074" data-mce-source="Manuel Romano/NurPhoto via Getty Images"></p><p></p><bi-shortcode id="summary-shortcode" data-type="summary-shortcode" class="mceNonEditable" contenteditable="false">Summary List Placement</bi-shortcode><ul class="summary-list"><li>Bitcoin could become the next "great tech stock" of the coming decade, an investment chief said.</li><li>But only retail traders buying into the coin won't be enough, according to Skybridge's Brett Messing.</li><li>"It's going to require institutional capital," he said. "Retail can't get it there." </li><li data-stringify-indent="0"><strong data-stringify-type="bold"><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest" target="_blank" rel="noopener noreferrer" data-stringify-link="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell" data-sk="tooltip_parent">Sign up here for our daily newsletter, 10 Things Before the Opening Bell</a></strong><strong data-stringify-type="bold">.</strong></li></ul><hr><p><a href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> could become what <a href="https://markets.businessinsider.com/stocks/tsla-stock">Tesla</a>, <a href="https://markets.businessinsider.com/stocks/fb-stock">Facebook</a>, and <a href="https://markets.businessinsider.com/stocks/googl-stock">Google</a> were for the last decade, according to Brett Messing, partner and chief operating officer at Skybridge Capital.</p><p>The investment chief explained that just like three of those tech stocks were some forms of networks, bitcoin too is a monetary network. </p><p>"Bitcoin is actually going to be the great tech stock over the next decade, in addition to being digital gold," Messing said at a virtual roundtable discussion this week.</p><p>According to him, there are two potential outcomes for the digital token in the near future: either it could remain a niche asset and trade between $5,000 and $50,000, or it could grow to be a "real asset" that could easily hit as much as $500,000. </p><p>But in order for it to get to even a quarter of that level, "it's going to require institutional capital," he said. "Retail can't get it there." </p><p>Bitcoin was last trading at $$32,129 on Friday, almost $10,000 lower than its <a href="https://markets.businessinsider.com/currencies/news/bitcoin-hits-new-record-high-of-41000-2021-1-1029943150">record high of $41,000</a> earlier this month.</p><p>"It's now a $600 billion asset class. I think it is arguably beyond the point at which it can be manipulated, and I think as it matures, that will become increasingly the case."</p><p>SkyBridge Capital, run by hedge fund manager Anthony Scaramucci, invested $25 million into<a href="https://markets.businessinsider.com/currencies/news/anthony-scaramucci-skybridge-capital-bitcoin-fund-launch-institutional-cryptocurrency-btc-2020-12-1029915328"> a bitcoin-focused fund</a> that went live on January 4. The "<a href="https://www.skybridgebitcoin.com/">SkyBridge Bitcoin Fund</a>" was launched so that the fund got in before bitcoin's price soars even higher.</p><p>The firm's flagship fund is a $7 billion Registered Investment Advisor (RIA), but for the purpose of managing the bitcoin fund, it isn't acting as one. "By doing that, we don't have to satisfy what's called a custody rule under the Advisers Act," Messing said, referring to the issue of custody service by hedge funds who hold large amounts of cryptocurrency.</p><p>But he expects Gary Gensler, <a href="https://www.businessinsider.com/cftc-gary-gensler-biden-wall-street-regulation-banks-policies-2020-11">President Joe Biden's pick to run the US SEC</a>, to be "very bitcoin-friendly," and that one of his first acts will be to provide clarity on the custody role.</p><p>In terms of risks to bitcoin, government regulation is by far the biggest. Just like it is for technology companies.</p><p>Messing said: "If you talk to what is Mark Zuckerberg worried about' What is Jeff Bezos worried about' The thing they worry about the most is the government, and that's the first concern."</p><p>A breakdown in infrastructure is another point of concern since bitcoin makes big moves everyday on exchanges that could falter.</p><p>Lastly, there could be a greater risk that no one is prepared for.</p><p>"We're trying to be crypto-hip, but whoever knew that we'd be sitting here in a pandemic on Zoom'" said Messing. "No one predicted this. I imagine the risk for Bitcoin is one that none of us are going to identify."</p><p><strong>SEE ALSO: <a href="https://markets.businessinsider.com/currencies/news/dogecoin-price-crypto-reddit-traders-satoshistreetbets-trigger-copycat-wsb-rally-2021-1-1030015774" >Dogecoin, a digital token that started as a joke, spikes 140% after traders in a crypto-themed Reddit forum trigger Wall Street Bets copycat rally</a></strong></p><p><a href="https://markets.businessinsider.com/currencies/news/bitcoin-next-great-tech-stock-coming-decade-retail-investment-chief-2021-1-1030021998#comments">Join the conversation about this story »</a></p> <p>NOW WATCH: <a href="https://www.businessinsider.com/pikes-peak-hill-climb-colorado-most-dangerous-racetrack-2020-2">Why Pikes Peak is the most dangerous racetrack in America</a></p>
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