SkyBridge Capital will transfer assets to BTC and ETH

Hedge fund SkyBridge Capital, founded by former US politician Anthony Scaramucci, plans to transfer most of its assets under management to bitcoin and ether.

The company started investing in bitcoin back in 2020. The firm also has funds placed in other hedge funds, real estate and private technology companies. In total, SkyBridge Capital manages $7.3 billion in assets.

SkyBridge Capital believes that the pandemic has divided the world into “before” and “after”. In the “after” world, there are more government budget deficits and more uncertainty about the development of the financial sector.

SkyBridge believes that Bitcoin and cryptocurrencies have a clear development path.