SkyBridge Capital Has Already Invested $182M in Bitcoin

Anthony Scaramucci’s SkyBridge Capital investment firm has invested $ 182 million in bitcoin on the upcoming Bitcoin fund, according to an investor brochure shared with CoinDesk.

The company, which manages 9.3 billion US dollars, launched the SkyBridge Bitcoin Fund LP in January. This is evident from documents filed by the Securities and Exchange Commission on December 21, as reported by CoinDesk.

The Bitcoin Fund has already invested $ 25 million in Bitcoin. The new fund will be open to external investors starting January 4th with a minimum of $ 50,000.

Scaramucci’s fund investment is another traditional investment firm that is jumping on the bitcoin train. This trend has driven the price of crypto well above $ 20,000 in the past few weeks.

The company outlined the attractiveness of Bitcoin for investors in its brochure promoting the Bitcoin fund.

“Bitcoin is digital gold,” they say. “It is better to be gold than gold.”

The brochure says at a high level that Bitcoin is an emerging asset class that has become less risky in recent years due to its attractive supply and demand dynamics. It should be noted that Bitcoin is increasingly used in retail and institutions and leads to added value through network effects. The document also cites low interest rates and “unprecedented money pressures” as contributing to the premium for “scarce assets like gold, real estate, art and bitcoin”.

One side of the brochure highlights “Bitcoin Seriousness: Wall Street Welcomes Bitcoin” with quotes from executives at companies like BlackRock and banks like Citibank and JP Morgan.

According to the brochure, SkyBridge expects hedge funds, public company treasurers, insurance companies, pension funds as well as banks and brokerage firms will also invest in the space.

“You have to accept whether Bitcoin is a store of value or not,” said Anthony Scaramucci, one of the founders of SkyBridge, in an interview on CNBC. “There are still skeptics out there and that’s why I think we’re in the first inning, but based on the research we’ve done, we believe that is the case, and given the money supply and the global central bank coordination I’m im Right now this will be a very strong asset class for the next decade. “

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