Bitcoin Funds, Anthony Scaramucci, SkyBridge

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 Grayscale’s bitcoin trust (GBTC).
  • “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 in starting the new fund.
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