The founder of SkyBridge Capital says that Bitcoin (BTC) and one Ethereum (ETH) competitor have helped the firm see strong returns on its investments.
In a new interview on Bloomberg Television, Anthony Scaramucci says that October 2023 was the best month SkyBridge Capital has had on record due to BTC and smart contract platform Solana (SOL) rebounding.
“We’re on a good run right now. The month of October [has] probably been the best month in SkyBridge’s history for that matter. A lot of it is Bitcoin, some of it is tech, some of it is [a] newer economy – things that have rebounded aggressively since the beginning of the year. But of course, Bitcoin has had a spectacular month.
You know, we own a lot of Solana. I think Solana is probably up 70% this month. And so this is just another explanation [for] people stay in things, stay convicted. Don’t listen to the chin music throughout the day, but have a very long-term focus on what you’re doing. We never sold a Bitcoin. In fact, if anything, we accumulated Bitcoin this year at lower prices and it served us and our clients well.”
Scaramucci goes on to say that SkyBridge would “love” to buy back the 30% stake of the company purchased by bankrupt crypto exchange FTX in 2022.
“We would love to buy the stake back. Of course, we were defrauded by that company FTX. And so we have issues with that transaction. We’d like to get the stake back. They’re not ready to transact with us. We’ve reached out to them many times. There’s only so much we can do.”
Bitcoin is trading for $34,553 at time of writing while SOL is moving for $45.20, a 25% increase on the day.
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Author: Mehron Rokhy
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