SkyBridge Capital invested $25 million in bitcoin

by in Cryptocurrency News

Skybridge

Investment firm SkyBridge Capital has confirmed a $ 25 million investment in BTC through its new fund.

In an interview with CNBC, SkyBridge Capital founder Anthony Scaramucci revealed that assets have already been moved and the company has launched a full node on the Bitcoin network. Fidelity Digital Assets provided technical support and custody services.

The structure of the new fund will allow investors to gain access to cryptocurrency at net asset value and avoid overpayments, as in the case of buying shares of the Grayscale bitcoin trust in the secondary market. The minimum investment amount is $ 50,000.

“We will make Bitcoin more affordable, as we did with the hedge fund industry a decade ago,” said Anthony Scaramucci.

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According to him, the fund will become a suitable tool for a wide range of wealthy investors and investment advisors. It will open for third-party investors in 2021.

Scaramucci added that he has a close relationship with MicroStrategy CEO Michael Sailor, whose company this year invested $ 1.6 billion in bitcoin. Sailor's example pushed him to open his bitcoin fund.

Scaramucci, who briefly served as director of communications at the White House in 2017, also believes that investing in cryptocurrency is still not too late.

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“This is only the first period. Soon you will see the first wave of early bitcoin adoption in the institutional community,” he said.

The fact that SkyBridge Capital sent an application to the US Securities and Exchange Commission (SEC) to register a bitcoin fund became known earlier this week.