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Scaramucci's Skybridge Invested $25M in New Bitcoin Fund
Scaramucci said Skybridge is running a full bitcoin node.
Anthony Scaramucci said his hedge fund, Skybridge, has invested $25 million in its new bitcoin fund.
STORY CONTINUES BELOW
- Skybridge has moved $25 million into the fund already, Scaramucci said during a Tuesday interview with CNBC. He said new investors can participate starting Jan. 4 2021.
- Fidelity Digital Assets is the bitcoin "back office" and "storage mechanism," he said. Scaramucci further claimed that Skybridge is running a full bitcoin node.
- Scaramucci said his fund's structure will give investors exposure to bitcoin's net asset value while avoiding the premiums extracted by the Grayscale Bitcoin Trust (GBTC). (Grayscale is a CoinDesk sister company.)
- "This will be a way for us to democratize bitcoin, like we did the hedge fund industry a decade ago," he said.
- Scaramucci said he and Michael Saylor have developed a "very close relationship over the past few months," and credited the MicroStrategy CEO, whose firm now holds over $1 billion in bitcoin, as an inspiration for starting the new fund.
Danny Nelson
Danny is CoinDesk's managing editor for Data & Tokens. He formerly ran investigations for the Tufts Daily. At CoinDesk, his beats include (but are not limited to): federal policy, regulation, securities law, exchanges, the Solana ecosystem, smart money doing dumb things, dumb money doing smart things and tungsten cubes. He owns BTC, ETH and SOL tokens, as well as the LinksDAO NFT.
