SkyBridge Capital's Crypto Pivot Looks to Triple its Assets

Trending 1 month ago 21

Hedge money SkyBridge laminitis Anthony Scaramucci said helium plans to displacement the gait of SkyBridge Capital's concern to virtual integer assets, according to Bloomberg.

SkyBridge is simply a planetary multi-asset people alternate investments firm, specializing successful hedge money solutions and opportunistic concern vehicles.

According to Scaramucci, astir fractional of SkyBridge Capital's $3.5 cardinal successful assets nether absorption is presently invested successful cryptocurrencies specified arsenic Bitcoin, the Algorand protocol, and Ethereum oregon related projects.

SkyBridge predicts that cryptocurrencies tin assistance companies triple their assets to $10 billion, with integer assets accounting for the immense majority.

Anthony Scaramucci said successful an interrogation that:

“We consciousness truthful powerfully astir this accidental that we’ve adapted and repositioned the steadfast to yet beryllium a starring cryptocurrency plus manager and adviser.”

The hedge fund, founded by erstwhile White House Communications Direction Scaramucci, has a Bitcoin Fund, which demands a buy-in of astatine slightest $50,000. The Bitcoin Fund grew rapidly to a size of $370 cardinal wrong weeks of its motorboat successful December 2020.

The SkyBridge executives claimed that holding Bitcoin is acold little risky nowadays than it was a fewer years agone erstwhile regulations and infrastructure were inactive underdeveloped.

Image source: Shutterstock