Hedge fund SkyBridge Capital plans to move most of its assets under management into cryptocurrency, as it sees the prospect of “tremendous” growth in this sector.
At the moment, almost $3.5 billion under the company’s management is tied to digital assets, including Bitcoin, Ethereum, Algorand and cryptocurrency stocks.
SkyBridge expects its focus on cryptocurrencies to triple its assets to $10 billion, with Anthony Scaramucci, head of the company, saying it will become a leading crypto-asset manager in the future. He has added:
“We believe that the crypto market has the prospect of tremendous growth. Of course, it has to do with volatility. But I think in three to five years, we will like its trajectory.”
