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Home Latest News Business SkyBridge company is seeking approval to invest in crypto

SkyBridge company is seeking approval to invest in crypto

According to cointelegraph, Investment firm SkyBridge, founded by former Goldman Sachs’ vice president Anthony Scaramucci, is one of the newest companies looking to invest in cryptocurrency.

The company is bringing together a hedge fund that includes Bitcoin (BTC) investment, according to a United States Securities and Exchange Commission (SEC), filing from Friday.

The announcement states:
“The Company may seek to gain investment exposure to certain Investment Funds or Investment Managers which may enter into derivative transactions, such as total return swaps, options and futures. Investments by the Company and/or Investment Funds may also be made in companies providing technologies related to digital assets or other emerging technologies.”

Several companies and individuals have kicked off a small but remarkable trend of entrance into crypto investment, especially Bitcoin. Billionaire Paul Tudor Jones piled into Bitcoin purchases this year. He recently described how early he feels the investment opportunity still is.

The prospectus contains, “Neither the Securities and Exchange Commission (the ‘SEC’), the Commodity Futures Trading Commission (the ‘CFTC’) nor any other U.S. federal or state governmental agency or regulatory authority has approved or disapproved the merits of an investment in these securities or passed upon the accuracy or adequacy of this Prospectus.”

The document says, “Digital assets have no intrinsic value other than as a method of exchange and are not based on a tangible commodity, security, contractual right or legal obligation.”

“The values of digital assets should not be expected to be connected or correlated to traditional economic or market forces, and the value of the investments of Investment Funds in digital assets could decline rapidly, including to zero,” The prospectus mentions after indicating out the “tremendous price volatility” seen in cryptocurrencies versus the norms shown in investments.

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