SkyBridge's Bitcoin Cache Rises to $310M as New Fund Launches
SkyBridge's bitcoin investment has already climbed to more than $300 million, mostly due to price appreciation in the past couple of months.
:format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/SI5S36I7RRBT5JFHLSDVY3U2EI.jpg)
SkyBridge Capital. founder Anthony Scaramucci
Skybridge Capital, the hedge-fund investing firm headed by Anthony Scaramucci, confirmed its launch of a new bitcoin fund Monday and said its exposure to bitcoin has already reached $310 million.
- The announcement, made in a press release, comes a week after CoinDesk reported on the fund's launch, citing a marketing brochure that was circulating among investors.
- At that point, the firm's investment across funds investing in bitcoin stood at $182 million.
- According to a SkyBridge spokeswoman, the increase in the position was mostly due to market appreciation, with a small amount of additional purchases.
- “With global money printing at an all-time high, bitcoin offers a strong alternative to gold as a store of value and hedge against future inflation,” Ray Nolte, SkyBridge's co-chief investment officer, said in the press release.
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 a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, 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.