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SkyBridge going all-in on cryptocurrency, relying on ‘significant growth in the future

  • News
  • April 26, 2022
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“The cryptocurrencies offer significant potential for us,” said SkyBridge president Anthony Scarramucci. SkyBridge Investment is trying to shift the bulk of its assets under administration (AUM) to digital content, citing the sector’s “significant growth.”

Ex-US senator Anthony Scaramucci launched the investment firm in 2005, and it first invested in Bitcoin (BTC) in late 2020. The firm’s overall AUM is roughly $7.3 billion, with capital invested in other investment firms, delayed commercial tech startups, and property investment.

Skybridge currently runs a $7 million Bitcoins Fund, among many other things, and has been aggressively seeking the approval of a spot BTC marketplace fund (ETF).

“As during epidemic, we made the judgment that we needed to relitigate our whole portfolio.” There is a which was before the world and an article world, with the latter having a lot higher deficit spending and a lot more doubt about development.”

“The cryptocurrencies, in our opinion, indicate tremendous growth.” It comes with volatility, to be sure, but I think we’d enjoy that trend over the next three to five years,” he continued.

SkyBridge’s head of corporate development, John Darsie, stated that the company’s increased emphasis on cryptocurrency is the result of

Pursuing assets in greater development companies, the firm is now exploring placements across various digital currencies and technology initiatives. Darsie states that SkyBridge is “very positive on the industry.”

“What we finally agreed to do was put money a fraction of that equity that had previously been apportioned to credit supervisors straight into digital currencies like Bitcoin and Ethereum—but then also spin capital into crypto-asset supervisors like Multicoin, Polychain, Pantera, and people of that nature,” he explained.

The upbeat remarks come only weeks after Scaramucci stated that the blockchain technology has a lot of promise but is worried about some “absolutely disgusting” U.S. lawmakers who could stifle the indigenous growth of the sector.

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