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- Anthony Scaramucci, former Director of Communication in White House and managing partner and founder of SkyBridge Capital, shared his thoughts on the cryptocurrency market.
- SkyBridge Capital is an SEC-registered investment counselor and international alternative investment manager which makes investment in real estate,and more.
- SkyBridge made an announcement regarding release of SkyBridge Bitcoin Fund LP, that offers mass-affluent investors with an institutional level vehicle to attain exposure to Bitcoin.
SkyBridge Initiated A Position
At the behest of its flagship funds, SkyBridge initiated a position, valued at around $310 Million, in funds investing in Bitcoin in November and December 2020. As per a report by a news website, SkyBridge Capital has money stationed in other hedge funds, late stage private technology organization as well as real estate, with its total AUM being approximately $7.3B.
Scaramucci also stated during an interview with Bloomberg that, the organization has taken a decision during pandemic that they have to relegate their whole portfolio, there are pre as well as post pandemic worlds, and post pandemic world has a plethora of government deficits.
John Darsie, director of business development in SkyBridge says that, what they have chode to conduct was an element of that capital which was formerly allocated to credit managers was invested directly into cryptocurrencies such as Ethereum and Bitcoin.
Scaramucci also debated regarding crypto sphere aftermath on LUNA and UST during an interview on CNBC.
He stated in that interview that, back in March 2020, when Bitcoin plunged between 4 and 6 thousand, $70 Billion got wiped, and so just to attain the magnitude of what they were talking at the time, it is the $800B correction.
He also jogged the memory of march 2000 when the world witnessed Nasdaq’s shift from 5,000 to 2,300. And so, if anyone had leverage in this scenario, they are likely to witness a permanent capital loss, but if not, there were a few anomalies which happened such as Terra debacle, where he believes these assets are on a distress level prices, they are technically oversold.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
