Former White House director steers 9 billion investment fund towards Bitcoin

By November 18, 2020Bitcoin Business
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Anthony Scaramucci steers 9 billion investment fund towards Bitcoin

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Skybridge Capital may not be a household name around the world just yet, but we bet you’ve heard of the founder of the group before. For a brief stint during the Trump presidency, one man was able to outshine his boss. For 11 days only, financier Anthony Scaramucci acted as the White House Communications director. When he was caught giving a reporter an earful during a nightly call, Trump immediately fired him. It was rumored that the fact that Scaramucci got more press than Trump himself had angered Potus, and that the nightly call to the reporter was just an excuse.

Scaramucci, also known as “the Mooch”, did the necessary press tour, spoke as a political advisor on Fox News, wrote a book about his time in the White House and then went back to his old love, Manhattan finance. The man, who many see as an extra on the Sopranos, in fact manages a $9 Billion investment fund called SkyBridge Capital.

Commentators claim him to be a follower and not a inventor. One of the men Scaramucci is said to look up to is Paul Tudor Jones. You may remember that name because in the beginning of the year that Wall Street titan steered his hedge fund into Bitcoin already.

Digital Assets

Scaramucci thus followed, and informed his wealthy Wall Street friends this week about the fund’s plan for 2021. Some interesting paragraphs in there read:

The Company may seek exposure to digital assets (as defined herein) by investing in Investment Funds that provide exposure to digital assets. Investments by the Company and/or Investment Funds may also be made in companies providing technologies related to digital assets or other emerging technologies.

And a bit further:

Digital assets (also known as “virtual currencies,” “cryptocurrencies,” “coins” or “tokens” or similar terms) are assets that are issued and/or transferred using technological innovations such as distributed ledger or blockchain technology and include, but are not limited to, Bitcoin.

Social media commentators highlighted that Scaramucci spoke of Paul Tudor Jones’ plan with great respect earlier this year. During a podcast for The Block Crypto, the former White House Director stated:

Paul is closed for new investors, but if he wasn’t closed for new investors, I would be in his fund. And I have no problem owning, as a pass-through through his fund, some level of digital currency exposure.

The Tudor Jones fund is probably still closed at the time of writing for any new investors, but that doesn’t mean that Scaramucci is going to wait any longer.

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