Former Aide of Trump Administration Launching Bitcoin Fund with $50,000 minimum investment

WASHINGTON, DC - JULY 20: U.S. President Donald Trump talks to reporters while hosting Republican Congressional leaders and members of his cabinet in the Oval Office at the White House July 20, 2020 in Washington, DC. Trump and his guests talked about a proposed new round of financial stimulus to help the economy during the ongoing global coronavirus pandemic. (Photo by Doug Mills-Pool/Getty Images)

According to an application submitted to the US Securities and Exchange Commission (SEC), Skybridge Capital is considering to launch a Bitcoin fund by former White House Communication Director and former Goldman Sachs Vice President Mr Anthony Scaramucci.

The hedge of fund’s Form D filed with the regulator detailed that it wants Skybridge Bitcoin Fund L.P as the issuer of the new fund, while Skybridge Bitcoin Fund GP LLC will be the related person.

The filing means that Mr Scramucci will approach only the accreted investors and seek a minimum investment of $50,000 through the target size of the investment fund is not disclosed. However, as the filing mentioned, the new bitcoin fund may not want full investment in digital currency but possibility of partial investments.

The filing also states that the Company and Investment funds may also invest in whole or in part on securities of companies related to digital assets or digital asset technologies like digital asset miners, payment technologies, digital security, or crypto trading exchanges, or that have direct or indirect exposure to developing technology.

In an interview previously with The Block, Scaramouch’s statement showed interest in the exposure of his Hedge fund to digital currencies, and this moves goes in line with it.

Skybridge approached the regulator when interest for digital currencies was growing. Many billionaires and established corporations transferred in Millions of dollars as investment into Bitcoin. This rising institutional interest also pushed the cryptocurrency market as the Bitcoin price recently increases rapidly.

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