Scaramucci's Skybridge Invested $25M in New Bitcoin Fund
Scaramucci said Skybridge is running a full bitcoin node.
:format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/RUWFSGME6JBCPGXQ2SC3EZ5AME.jpg)
/arc-photo-coindesk/arc2-prod/public/LXF2COBSKBCNHNRE3WTK2BZ7GE.png)
Anthony Scaramucci said his hedge fund, Skybridge, has invested $25 million in its new bitcoin fund.
- 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.
Disclosure
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.
Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.