Scaramucci’s Skybridge Invested $25M in New Bitcoin Fund

Anthony Scaramucci said his hedge fund, Skybridge, has invested $25 million in its new bitcoin fund.

• Skybridge has moved $25 million into the fund already, Scaramucci said during a Tuesday interview with CNBC. He said new investors can participate starting Jan. 4 2021.
• Fidelity Digital Assets is the bitcoin "back office" and "storage mechanism," he said. Scaramucci further claimed that Skybridge is running a full bitcoin node.
• Scaramucci said his fund's structure will give investors exposure to bitcoin's net asset value while avoiding the premiums extracted by the Grayscale Bitcoin Trust (GBTC). (Grayscale is a CoinDesk sister company.)
• "This will be a way for us to democratize bitcoin, like we did the hedge fund industry a decade ago," he said.
• Scaramucci said he and Michael Saylor have developed a "very close relationship over the past few months," and credited the MicroStrategy CEO, whose firm now holds over $1 billion in bitcoin, as an inspiration for starting the new fund.