Former Communications Director of the White House Anthony Scaramucci’s hedge fund, SkyBridge Capital, bought $25 million worth of Bitcoin (BTC), as Scaramucci confirmed on CNBC today. According to him, the sizeable Bitcoin investment is set to go to the newly registered SkyBridge Bitcoin Fund, which actually just started trading. Notably, the fund plans to start taking investments this coming January 4th.
In Scaramucci’s own words, SkyBridge’s BTC fund is structured specifically to supply investors the needed exposure to the net asset value of BTC while also pushing them away from the premiums that are typically associated with such trusts, such as Grayscale’s. He then continued by stating that he aims to democratize BTC with this development, just as what they did to the hedge fund industry many years ago.
It is also worth noting that Scaramucci explicitly said that he considers Michael Saylor, the CEO of MicroStrategy, as his greatest influence with regards to his views on Bitcoin. According to him, he and Saylor share the same outlook on the crypto, and thus, have blossomed to a very close relationship.
As reported by Coinmod yesterday, Saylor’s MicroStrategy committed yet another $650 million towards BTC – putting the grand total BTC holdings of the firm at over $1 billion. Considering Scaramucci’s close relationship with the MicroStrategy CEO, it wouldn’t surprise anyone if SkyBridge Capital suddenly adds another sizeable BTC hauling shortly.