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SkyBridge Capital Reaps Benefits from Bitcoin and Solana Investments, Expresses Desire to Reclaim Stake from FTX

Author

Jay Solano

Tags

Tags Editor's Choice

Reading time

2 mins
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Author

Jay Solano

Tags

Editor's Choice

Category

News - Archive / News

Reading time

2 mins
Last update

Author

Jay Solano

Tags

Editor's Choice

Reading time

2 mins
Last update


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Anthony Scaramucci, the founder of SkyBridge Capital, attributes the company’s robust returns to its investments in Bitcoin (BTC) and Solana (SOL), a competitor to Ethereum (ETH).

Scaramucci spoke with Bloomberg Television, where he highlighted the significant strides SkyBridge Capital made in October 2023, terming it the best month in the company’s history. This achievement was primarily driven by the resurgence of Bitcoin and Solana, a smart contract platform.

He stated: “We’re experiencing a favorable streak. October stands out as SkyBridge’s most exceptional performance month. The uptrend encompasses various sectors like technology, emerging economies, and assets that have vigorously revived since the year’s inception. Notably, Bitcoin’s performance this month has been phenomenal.”

Further shedding light on their investment portfolio, Scaramucci mentioned, “We hold a significant amount of Solana, which has appreciated approximately 70% this month alone. It’s a testament to our strategy of maintaining a long-term perspective and not being swayed by short-term market noises. Throughout, we’ve held onto our Bitcoin assets, even increasing our holdings when prices dipped, which has proven beneficial for both us and our clients.”

Additionally, Scaramucci touched upon SkyBridge’s past dealings with crypto exchange FTX, which declared bankruptcy in 2022 after acquiring a 30% stake in SkyBridge. Expressing the company’s dissatisfaction with the transaction, he said, “We are keen on repurchasing the stake. We feel deceived by FTX regarding the acquisition. Despite our multiple attempts to communicate with them, they remain non-responsive. Our options, unfortunately, are limited at this juncture.”

At the time of the interview, Bitcoin was trading at approximately $34,553, while Solana recorded a substantial daily gain of 25%, placing its price at $45.20.