SkyBridge Capital Confirms $300 Million Bitcoin Position

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BitcoinBusiness

Nick Chong | 

As institutional capital continues entering Bitcoin, SkyBridge Capital announced on Monday that it has an “approximately $310 million” position in the asset. 

SkyBridge, which is led by Anthony Scaramucci, is an alternative investment fund operated in the U.S.

In the press release announcing the position, SkyBridge claimed to have made this investment during November and December, though it did not disclose the average acquisition price, nor how many bitcoin it owns.

The release also confirmed the launch of the SkyBridge Bitcoin Fund LP which allows investors to obtain exposure to the cryptocurrency. Scaramucci commented on the news: 

We believe Bitcoin is in its early innings as an exciting new asset class. With the institutional quality custody solutions available today, we believe the time is right to allocate capital and provide our clients access to the digital assets space.

SkyBridge Bitcoin Fund LP is operated in collaboration with Fidelity Digital Assets, who will serve as the fund’s Bitcoin custodian.

This latest news comes after a November 13th Securities and Exchange Commission filing indicated SkyBridge was seeking exposure to “digital assets.” 

Scaramucci has said previously that he sees Bitcoin as a store of value, citing trends such as the shift from gold to Bitcoin and the fact that younger investors prefer the cryptocurrency over traditional assets: 

“You either have to accept that Bitcoin is a store of value, or not. There are still skeptics out there. And that’s why I think we’re in the first inning. But after doing the research we’ve done, we believe it is.”

Nick is a writer and analyst who has been following Bitcoin since 2013. When he is not writing, he works on HTC’s Bitcoin phone, EXODUS.

Free Bitcoins: FreeBitcoin | BonusBitcoin

Coins Kaufen: Bitcoin.deAnycoinDirektCoinbaseCoinMama (mit Kreditkarte)Paxfull

Handelsplätze / Börsen: Bitcoin.de | KuCoinBinanceBitMexBitpandaeToro

Lending / Zinsen erhalten: Celsius NetworkCoinlend (Bot)

Cloud Mining: HashflareGenesis MiningIQ Mining

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