Anthony Scaramucci, founder of SkyBridge Capital, claims that the hedge fund company has registered its highest monthly returns ever. This breakthrough is reportedly due to investments in Bitcoin, technology, and other cryptocurrencies.
Scaramucci stated that the month of October has likely been the best in the history of SkyBridge. He attributed much of this success to Bitcoin, along with tech and other “new economy things” that have rebounded significantly since the start of the year.
The news comes despite SkyBridge’s association with Sam Bankman-Fried, the former CEO of crypto exchange FTX, who is currently on trial for fraud and misuse of FTX customer funds. Notwithstanding the reputational damage, the firm remained steadfast in their crypto investments.
Scaramucci highlighted the impressive performance of Solana, which they own significantly, and is up by about 70% this month according to him. Despite the fall of FTX and a plunge in the crypto market, SkyBridge continued buying Bitcoin at lower prices, which Scaramucci indicates has benefitted them and their clients.
SkyBridge had ventured into crypto about three years ago, gaining more exposure through direct token acquisitions and private investment in digital-asset firms. Scaramucci remains confident in advocating for crypto, despite some of its major clients seeking to reduce their exposure to the emerging asset class.