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Scaramucci Buys $25M BTC

SkyBridge Capital Director Anthony Scaramucci has invested $25M in BTC.

SkyBridge Bitcoin Fund started trading today with $25M in Bitcoin invested by SkyBridge. The fund will welcome investments from outside on January 4, Scaramucci stated.

“You either have to accept that Bitcoin is a store of value or not,” he said. “After doing the research, we believe it is. And given the monetary supply and the global central banking coordination right now, this will be a very strong asset class over the next decade,” he said.

Scaramucci said, “We would have loved to have deployed the fund three or four months ago,” but believes that Bitcoin has not yet reached its peak. “This is something that has crashed upwards in the last two-and-a-half to three weeks,” he continued.

To classify investors from flipping shares in his Bitcoin Fund for quick money, the fund implemented a three-week-long holding period, he stated. “This is an asset that can go up 2/3x from here,” he said and doesn’t want his customers to miss out.

“Until frankly there’s an ETF or a customer account somewhere where people can hold Bitcoin, this will be a way to democratize Bitcoin,” he mentioned.

To classify investors from flipping shares in his Bitcoin Fund for quick money, the fund implemented a three-week-long holding period, he stated. “This is an asset that can go up 2/3x from here,” he said and doesn’t want his customers to miss out.

“Until frankly there’s an ETF or a customer account somewhere where people can hold Bitcoin, this will be a way to democratize Bitcoin,” he mentioned.

The fund will only open to verified investors, which the SEC defined as someone with an annual income of $200K or an institution with $5M in assets. SkyBridge manages $9.3B in assets.

Scaramucci mentioned in his interview with Michael Saylor at SkyBridge’s conference, SALT, inspired his decision.

Saylor bought over $1B in Bitcoin, Saylor said on Twitter this weekend. Today, Saylor tweeted,

“Bitcoin is like a battery charged with monetary energy.”

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