• Anthony Scaramucci’s SkyBridge Capital experienced its most successful month in October 2023, driven primarily by the resurgence of Bitcoin (BTC) and Solana (SOL).
• Scaramucci emphasized the importance of retaining a long-term perspective in cryptocurrency investments, highlighting SkyBridge’s decision to accumulate more Bitcoin this year at lower prices.

Anthony Scaramucci, the founder of SkyBridge Capital, stated that the firm has registered strong returns on its investments in Bitcoin (BTC) and Ethereum Layer-1 competitor Solana.

In a recent interview on Bloomberg Television, Anthony Scaramucci revealed that October 2023 marked the most successful month in SkyBridge Capital’s history, primarily attributed to the resurgence of BTC and the smart contract platform Solana (SOL).

Scaramucci said:

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.

Scaramucci shared that they have a substantial stake in Solana, which has surged about 70 percent this month. It’s a testament to the importance of staying committed to your investments, he said. The SkyBridge Capital founder advised ignoring the short-term noise and maintaining a long-term perspective.

“We never divested from Bitcoin. If anything, we acquired more Bitcoin this year at lower prices, which has proven to be a wise decision for both us and our clients,” he said.

Interestingly, Scaramucci expressed the desire to repurchase the 30 percent stake in the company acquired by the now-bankrupt crypto exchange FTX in 2022, stating that SkyBridge would “welcome” the opportunity.

Bitcoin As A Deflation Hedge

Scaramucci is not the only one who’s bullish about Bitcoin in the long term. Cathie Wood’s Ark Invest also stated that she would prefer Bitcoin over Gold or Cash, predicting a deflationary environment over the next decade. The leader of ARK Investment Management restated her belief in an upcoming period of declining prices when asked on Bloomberg’s Merryn Talks Money podcast which of the three asset classes she would opt to hold for a decade. Responding to this Wood said:

Bitcoin, hands down. Bitcoin is a hedge against both inflation and deflation because there’s no counterparty risk, and institutions are barely involved. It’s “digital gold”.

Wood, known for her optimism regarding cryptocurrencies and their potential to benefit from technological advancements, had previously predicted Bitcoin’s price would surpass $1 million in the coming decade. Her firm, along with 21Shares, has applied for a Bitcoin ETF and made investments in the Grayscale Bitcoin Trust.

Her $1.2 billion ARK Next Generation Internet ETF acquired GBTC in November, capitalizing on a 40 percent discount at the time. This trust constitutes the largest holding in the fund and has yielded approximately 224 percent returns this year, outperforming Bitcoin’s roughly 114 percent rise. ARK recently divested some of its GBTC holdings.

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