The owner of Skybridge Capital, Anthony Scaramucci, has, through the firm, invested in Bitcoin. On behalf of its investment capital, the firm already holds about $182 million worth of Bitcoin as reported by an investor deck acquired by The Block.
There is news of an emerging merger between the hedge fund and some crypto companies such as Silvergate and Fidelity Digital Assets for a fund. This is a new Bitcoin fund due for public launch in the coming month by the hedge fund. The deck went further to say that Skybridge Capital has $182 million of its investment capital set invested in Bitcoin.
Multi-investing by the firm
Also, the company reports that it holds $25.3 million set aside for the new fund project in the investor deck. This news was made public in December, early this month. However, there is no clarity as to whether this amount is by any way part of the prior amount mentioned.
The fiscal amenities giant, Scaramucci, happens to be the new kid on the block to enter the crypto world. Prior, other significant players to have invested such as Tudor Investment Corp and Renaissance Technologies owned Paul Tudor Jones.
Help to get into the market
Skybridge Capital firm, on its part, anticipates an institutional boost when entering the market to catch up well. As Bitcoin holds as digital gold (even more superior than gold) and the market’s development will increase hedge funds. There are also various talks with huge capital investors, which will improve the hedge funds, RIAs, and insurance money investing in crypto, as per Skybridge.
The company also anticipates a shake-up in the outdated 60/40 collection ratio of holdings to be a tailwind for the crypto for new ventures. Skybridge says that the change has connections to deeds of the Federal Reserve and negative fee rates.
The deck reported that the negative fee rates show a real hazard to pension funds, endowments, and insurance firms to attain return goals. If these institutions redistribute the funds from the stable income platform to Bitcoin would lead to a significant shoot in Bitcoin prices.