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SkyBridge Capital Invests $182 Million In Bitcoin (BTC)

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Anthony Scaramucci’s investment fund, SkyBridge Capital, has just invested $182 million in Bitcoin (BTC). This purchase follows the creation of a new investment fund entirely dedicated to Bitcoin.

SkyBridge Capital dedicates 2% of its funds to Bitcoin

New week, new institutional investing millions of dollars in Bitcoin (BTC). SkyBridge Capital investment fund is the latest to join the “ Bitcoin Club ” circle, which is welcoming new members at an astounding rate.

According to a brochure for investors obtained by The Block, SkyBridge Capital has indeed just invested  $182 million in Bitcoin.

Based in New York, this investment fund founded by Anthony Scaramucci has under management more than 9.3 billion dollars. Its investment in Bitcoin is roughly equivalent to 2% of its funds.

However, this purchase of bitcoins by SkyBridge Capital is not so surprising and was even expected. Last week, the company filed a case with the Securities and Exchange Commission (SEC) to launch a fund dedicated solely to Bitcoin. SkyBridge has notably partnered with Fidelity Digital Assets and Silvergate to successfully launch this fund.

Already in operation, this fund called “  Skybridge Bitcoin Fund LP  ” has also invested  $25.3 million in Bitcoin, according to the brochure shared with investors. This will be open to outside investors from January 4, who will have to invest at least $50,000.

A new standard?

For a few months now, institutional investors’ appetite for the queen of cryptocurrencies has not seen the slightest weakness, which can be felt directly in the price of Bitcoin. By approaching $30,000, Bitcoin has proven to all of its abilities to recover from a financial crash, especially that of March 2020 when it was around $4,000.

Bitcoin is one of the best performing financial assets of the year, with more than 278% increase. A performance that places it far ahead of gold, which shows an increase of nearly 29% over the last 12 months.

Furthermore, Anthony Scaramucci is categorical, it is not too late to invest in Bitcoin:

“For us, I don’t think it’s late. On the contrary, it is the first step. You are about to see this wave of early adoption by the institutional community. I would like our investors to get involved before this happens on a large scale, ”he said.

Next year should have some nice surprises in store for us in the cryptocurrency world. Although Bitcoin is likely to see a correction soon , it is highly likely that it will hit new highs in the coming months.

 

Source: Naija News