[ad_1]
NEW YORK, January 4, 2021 / PRNewswire / – SkyBridge Capital, a leading global alternative investment firm, today announced the launch of SkyBridge Bitcoin Fund LP, which provides affluent mass investors with an institutional-grade vehicle to gain exposure to Bitcoin. Additionally, on behalf of its flagship funds, SkyBridge initiated a position, valued at approximately $ 310 million at the time of this publication, in funds investing in Bitcoin in November and December 2020.
To launch SkyBridge Bitcoin Fund LP, SkyBridge and its affiliates invested $ 25.3 million. SkyBridge is among the most established financial institutions to launch a Bitcoin product, providing a safe and easy way to buy and sell Bitcoin. Fidelity will act as custodian and Ernst & Young will audit the fund.
“We believe Bitcoin is in its early stages as an exciting new asset class,” said SkyBridge Founder and Managing Partner. Anthony scaramucci. “With the quality institutional custody solutions available today, we believe now is the time to allocate capital and enable our clients to access the digital asset space.”
Despite the growing demand for digital retail currency, businesses on Wall Street have largely avoided the market due to security concerns. With the launch of the SkyBridge Bitcoin Fund LP, investors will have access to institutional grade custody and trading, without forcing investors to directly own Bitcoin.
“Bitcoin is leading a digital currency revolution in the world,” said Brass board, SkyBridge President and Chief Operating Officer. “We believe the burden of proof has shifted from ‘why are you investing in Bitcoin? “to ‘how don’t you invest in Bitcoin?’ “
In 2020, the price of Bitcoin more than doubled and exceeded its 2017 market capitalization to a record high of over 500 billion dollars. Today, a Bitcoin is valued at around $ 32,000.
“Our investment team has become excited about the properties of Bitcoin as a portfolio diversifier and return generator,” said Troy Gayeski, SkyBridge Co-Chief Investment Officer and Senior Portfolio Manager. “Investors trust us to see the corners, and we believe it is now prudent to allocate a small portion of your portfolio to digital assets.”
SkyBridge Bitcoin Fund LP builds on the company’s long-standing commitment to making alternative investments accessible to a wider audience. Among its products, SkyBridge’s flagship G-Series fund offers modest minimum investment requirements for access to leading hedge fund managers.
“With global currency printing at an all time high, Bitcoin offers a solid alternative to gold as a store of value and hedge against future inflation,” said Ray nolte, SkyBridge Co-Chief Investment Officer and Senior Partner.
The SkyBridge Bitcoin Fund LP will charge a management fee of 75 basis points and no incentive fees. Accredited investors can subscribe directly to the fund, which requires a minimum investment of $ 50,000, at skybridgebitcoin.com. SkyBridge co-CIO, Troy Gayeski, wrote a white paper on the company’s decision to enter the Bitcoin market, which can also be found at skybridgebitcoin.com.
About SkyBridge
SkyBridge is a global alternative investment manager providing a range of investment solutions to individuals and institutions. Targeting all types of market participants, SkyBridge’s investment offerings include blended funds of hedge fund products, custom segregated account portfolios, hedge fund advisory services and a non-traded REIT focused on the area of opportunity. The company is headquartered in New York. For more information visit: www.skybridge.com.
SOURCE SkyBridge Capital
[ad_2]
Source link