The founder of SkyBridge Capital says Bitcoin (BTC) and a competitor to Ethereum (ETH) have helped the company achieve strong returns on its investments.
In a new interview on Bloomberg Television, Anthony Scaramucci say that October 2023 was the best month SkyBridge Capital has ever had thanks to the recovery of BTC and the smart contract platform Solana (SOL).
“We are doing well at the moment. The month of October [has] probably the best month in SkyBridge’s history in that regard. A lot of it is Bitcoin, some of it is technology, some of it is [a] newer economy – things that have recovered aggressively since the start of the year. But of course Bitcoin has had a spectacular month.
You know, we own a lot of Solana. I think Solana is probably up 70% this month. And so this is just another explanation [for] people remain in things, remain condemned. Don’t listen to the chin music all day, focus on what you do in the long term. We never sold a Bitcoin. In fact, we have accumulated Bitcoin at lower prices this year and it has served us and our customers well.”
Scaramucci further says that SkyBridge would “love” to buy back the 30% stake in the company that was bought by bankrupt crypto exchange FTX in 2022.
“We would like to buy back the stake. Of course we got scammed by that company FTX. And so we have problems with that transaction. We would like to get the stake back. They are not ready to transact with us. We contacted them many times. There is only so much we can do.”
Bitcoin is trading at $34,553 at the time of writing, while SOL is trading at $45.20, up 25% on the day.
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Generated image: Midjourney