April 21, 2024

SkyBridge announced plans to invest most of its assets in cryptocurrency

The digital asset sector has the prospect of tremendous growth, the hedge fund is sure.

Hedge fund SkyBridge Capitalplans to transfer most of the assets under itsmanagement in cryptocurrency, as he sees the prospect of “huge” growth in this sector. At the moment, almost $3.5 billion under management of the company is associated with digital assets, including bitcoin, Ethereum, Algorand and shares of crypto companies, writes Bloomberg.

SkyBridge expects its focus on cryptocurrencies to triple its assets to $10 billion. According to company CEO Anthony Scaramucci, it will become a leading crypto asset manager in the future.

“We believe that the crypto market has the potential for huge growth. Of course, this is due to volatility. But I think that in three to five years we will like his trajectory,” said Scaramucci.