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Scaramucci's Skybridge Invested $25M in New Bitcoin Fund
Scaramucci said Skybridge is running a full bitcoin node.
By Danny Nelson
Updated Sep 14, 2021, 10:47 a.m. Published Dec 22, 2020, 6:02 p.m.
Anthony Scaramucci said his hedge fund, Skybridge, has invested $25 million in its new bitcoin fund.
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- 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.
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