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SkyBridge hedge fund plans to convert most of its assets into cryptocurrency

SkyBridge hedge fund plans to convert most of its assets into cryptocurrency

SkyBridge Capital, a hedge fund, plans to move most of its assets into cryptocurrency since it foresees tremendous growth in this sector and hopes to triple its assets.  

According to Bloomberg, the company currently manages nearly $3.5 billion in digital assets, including Bitcoin, Ethereum, Algorand, and cryptocurrency stocks. SkyBridge expects its focus on cryptocurrencies to triple its assets to $10 billion. According to Anthony Scaramucci, the head of the company, in the future, it will become a leading crypto asset manager.

“We think the cryptocurrency markets represent tremendous growth. It comes with volatility, certainly, but I think over the three to five years, we’d like that trajectory, - said Scaramucci. - We feel so strongly about this opportunity that we’ve adapted and repositioned the firm to eventually be a leading cryptocurrency asset manager and adviser”.

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