Anthony Scaramucci’s SkyBridge Capital has made another headline as the investment firm purchased a $182 million worth of Bitcoin.
The company has about $9.3 billion under management. And based on the brochure submitted to the Securities and Exchange Commission (SEC) on December 21, SkyBridge will be rolling out the SyBridge Bitcoin Fund LP next month.
“[SkyBridge] has invested $182 million in bitcoin on behalf of its investment funds,” the brochure reads.
$25 million has already been invested in Bitcoin from the Bitcoin Fund, with the new fund billed to open to outside investors as of January 4.
The trend of traditional investment firms taking major steps into the Bitcoin industry has continued. The trend has pushed Bitcoin’s price beyond the previous all-time high levels of $20,000.
In Skybridge’s brochure used in soliciting for Bitcoin fund, the firm informed investors about the general appeal towards the top cryptocurrency.
$50,000 Minimum investment threshold
The fund is said to be available to only investors who have been accredited, with the minimum investment threshold placed at $50,000.
The marketing pitch delivered by SkyBridge also noted the high market value of Bitcoin, as it compared Bitcoin to gold. “Bitcoin is digital gold,” the pitch noted.
The promotional message also advertised Bitcoin in bullish way by repeating the quotations of top executives at JP Morgan, CitiBank, and BlackRock. These executives have previously painted Bitcoin in a positive light.
SkyBridge has been preparing to step into the Bitcoin and crypto market for some time. Recently, the firm partnered with Silvergte and Fidelity Digital Assets for the safe storage of digital assets.
The brochure also said as an emerging asset, Bitcoin is increasingly becoming less risky in recent years and more stable than other investment assets.
The brochure also noted that the level of institutional and retail adoption of the top crypto asset is at an unprecedented level.
Besides,the most attractive feature is its recent stable rise, which has led to more adoption and an increased interest in the coin.
A very strong asset class
SkyBridge also thinks that more institutions like brokerage firms, banks, pension funds, insurance companies, public company treasurers, and hedge funds will soon join the Bitcoin bandwagon.
As a result of the massive throve of investors towards the cryptocurrency as one of the best stores of value, the investment fund says it wants to join early and help its investors grow their wealth.
SkyBridge has also predicted that Bitcoin will be a very strong asset class in the future, considering the global central banking coordination and increased monetary supply.