Great interview on CNBC with Anthony on this. https://finance.yahoo.com/news/scaramucci-skybridge-launching-bitcoin-fund-172809016.html Danny Nelson Mon, December 21, 2020, 9:28 AM PST·1 min read Anthony Scaramucci’s hedge fund SkyBridge Capital filed documents with the U.S. Securities and Exchange Commission Monday for what appears to be its first bitcoin fund. The $9.2 billion asset manager filed a Form D for “SkyBridge Bitcoin Fund L.P.,” a private securities offering open only to accredited investors buying at least $50,000. The fund’s strategy and means of exposure were unavailable at press time. SkyBridge granted two of its funds permission to “seek exposure to digital assets” in mid-November without specifically mentioning bitcoin. Since then, fund founder Anthony Scaramucci, who became known to broader public during his 11-day tenure as White House communications director for President Donald Trump, has further dabbled in bitcoin rhetoric through conversations with MicroStrategy CEO Michael Saylor. The Monday filings reveal SkyBridge has a newfound interest in chasing the oldest cryptocurrency more directly.
Back in the day when Berkshire Hathaway only traded in A shares, the shares got too bit pricey for many smaller investors, so this fund manager comes up with the brilliant idea to launch a fund that solely invested in Berkshire A shares in order to allow small mom & pop investors a chance to have a piece of Berkshire via his fund. For this kindly duty, he charged a 2% management fee. Legend has it that Buffett caught wind of this, and immediately decided to create the B-class shares, which traded at a fraction of the price of the A shares.
Most likely nothing. CNBC interview broke it down, this fund will have management fee of 75 basis points and trade very close to NAV compared to GBTC 2% and up to 30% over NAV at times. It's also being marketed to the HNW for a small percentage allocation with possible asymmetric returns.
skybridge - supported by thin air time to short the shit out of bit, like others have said. you sound like a commissioned salesman for mooch? the fact cnbc did an interview "which is paid advertisement" tells me to put on my track shoes and run the other way. polished sales pitch reminds me of ltcm and their sales pitch... bet some military generals are on the board, lol.
I'm a bitcoin and crypto digital assets hodler. If you're planning to short bitcoin, please do and let us know how it works out.
We got that hodling aside, you don't think that there is a lot of FOMO at the moment and cryptos could correct a little from here?