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ETH $2946.52 (-4.6%)
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BCH $538.08 (-2.2%)
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Skybridge Capital Begins Bitcoin Foray, Invests $310M

Skybridge Capital Begins Bitcoin Foray, Invests $310M
  • SkyBridge Capital has invested $310 million in Bitcoin.
  • The investment came soon after the firm launched its Bitcoin Fund in November and December 2020.
  • SkyBridge will also give investors access to other alternative investment plans.

According to a press release, SkyBridge Capital has put $310 million investment in Bitcoin. The firm’s investment came as a result of its recent SkyBridge Bitcoin Fund LP launched.

As brought by the launch, retail investors and individual users will be able to get access to many other alternative investment plans. Also, traders will have access to institutional-quality custody and operation without the need to hold BTC directly.

The SkyBridge Bitcoin Fund LP provides well-time investors with institutional-grade features for Bitcoin. Moreso, the company offers secure and fewer effort procedures to buy and sell Bitcoin within the crypto space.

SkyBridge CEO Anthony Scaramucci said,

We believe Bitcoin is in its early inning as an exciting new asset class. With the institutional quality custody solutions available today, we believe the time is right to allocate capital and provide our clients access to the digital assets space.

According to SkyBridge, Fidelity will become its custodian while Ernst & Young (EY) will be its official auditor.

SkyBridge is an investment company that is based in New York. Meanwhile, Bitcoin is currently trading at $31,712.15, according to CoinGecko.

Collins Adane is a writer who follows the crypto industry closely. He loves fish stew and Real Madrid. He believes in cryptocurrency’s potential to transform the money landscape in his native country Ghana.