NEW YORK, 4 January 2021 / PRNewswire / – SkyBridge Capital, a leading global alternative investment firm, today announced the launch of the SkyBridge Bitcoin Fund LP, which offers mass-wealthy investors an institutional vehicle to gain exposure to Bitcoin. In addition, SkyBridge started a position on behalf of its flagship funds with a value of approx. $ 310 million at the time of this release, in funds investing in Bitcoin in November December 2020.
To launch SkyBridge Bitcoin Fund LP, SkyBridge and its affiliates have invested $ 25.3 million. SkyBridge is one of the most established financial institutions launching a Bitcoin product, providing a safe and easy way to buy and sell Bitcoin. Fidelity will serve as supervisor, and Ernst & Young will audit the fund.
“We believe Bitcoin is in the early stages as an exciting new asset class,” said SkyBridge’s founder and managing partner Anthony Scaramucci. “With the quality maintenance solutions available today, we believe the time is right to allocate capital and give our customers access to the digital asset space.”
Despite growing retail demand for digital currencies, Wall Street businesses have largely avoided the market due to security concerns. With the launch of the SkyBridge Bitcoin Fund LP, investors will have access to institutional quality preservation and operation, without forcing investors to own Bitcoin directly.
“Bitcoin is leading a digital monetary revolution around the world,” he said Brett Brass, SkyBridge president and chief operating officer. “We believe the onus has shifted from ‘why are you investing in Bitcoin?’ to ‘how do you not invest in Bitcoin?’ “
In 2020, Bitcoin more than doubled in price and exceeded its 2017 market capitalization for an everyday high of more than $ 500 billion. Today, one Bitcoin is valued at approximately $ 32,000.
“Our investment team has become enthusiastic about Bitcoin’s properties as a portfolio diversifier and yield generator,” he said. Troy Gayeski, Co-head of SkyBridge, investment officer and senior portfolio manager. “Investors trust us to look around the corner, and we believe it now makes sense to allocate a small portion of your portfolio to digital assets.”
SkyBridge Bitcoin Fund MP builds on the company’s long-standing commitment to make alternative investments accessible to the wider public. Among its products, SkyBridge’s flagship Series G fund offers modest minimum investment requirements for access to leading hedge fund managers.
“With global money pressure at an all-time high, Bitcoin offers a strong alternative to gold as a store of value and hedges against future inflation,” he said. Ray Nolte, Co-chief investment officer of SkyBridge and senior partner.
The SkyBridge Bitcoin Fund MP charges a 75-base point management fee and no incentive fee. Accredited investors can sign up directly to the fund, which requires a minimum investment of $ 50,000, by skybridgebitcoin.com. Troy Gayeski, co-CIO of SkyBridge, wrote a white paper on the firm’s decision to enter the Bitcoin market, which can also be found on skybridgebitcoin.com.
About SkyBridge
SkyBridge is a global alternative investment manager that offers a range of investment solutions to individuals and institutions. SkyBridge’s investment offering caters to every type of market participant, including mixed funds of hedge fund products, custom separate account portfolios, hedge funds advisory services and a non-trading REIT. The head office is in New york. For more information, visit: www.skybridge.com.
SOURCE SkyBridge Capital