SkyBridge Ups its Bitcoin Bet

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Just days after launching a bitcoin fund and revealing the purchase of $25 million bitcoin, SkyBridge now says their position has grown to $310 million. “We believe Bitcoin is in its early innings as an exciting new asset class,” said SkyBridge founder and managing partner Anthony Scaramucci. “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.” The fund facilitates bitcoin investments of $50,000 or more, with it just one of the recent entrants to cater to growing demand from wealthy investors. “With global money printing at an all-time high, Bitcoin offers a strong alternative to gold as a store of value and hedge against future inflation,” said Ray Nolte, SkyBridge Co-Chief Investment Officer and Senior Partner. As London announces a new lockdown, such money printing may accelerate even further, making cash a…

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