ZB Academy:Skybridge Capital has invested $182 million in Bitcoin

ZB Academy
4 min readDec 30, 2020

According to the investor manual of the Bitcoin fund to be established by hedge fund tycoon Anthony Scaramucci, the hedge fund company Skybridge Capital owned by him has invested $182 million in Bitcoin. According to a document submitted by the Securities and Exchange Commission (SEC) on December 21, the company will launch “SkyBridge Bitcoin Fund LP” in January next year. So far, the company has managed nearly 9.3 billion US dollars of funds. “Bitcoin is a kind of digital gold.” In the investor handbook of the Bitcoin fund, the company described Bitcoin’s appeal to investors.

In addition, there is a little anecdote about Bitcoin. National Football League player Russell Okung will become the first player in a major US sports league to use Bitcoin to pay. This player tweeted on Twitter in May 2019, proposing the vision of using Bitcoin to pay his salary. This is achieved through the Bitcoin startup Zap founded by Jack Mallers. Zap’s Strike product can convert traditional paychecks into Bitcoin. Mallers said that other professional athletes, including the unnamed Brooklyn Nets basketball team and members of baseball’s New York Yankees, have also begun participating in the project.

As of press time, according to ZB.com’s official market data, Bitcoin is currently reported at $27,648, a 24-hour increase of 3.26%, and the highest 24-hour price is $2,7833.7

Apart from the dynamics of Bitcoin, let’s take a look at the relevant dynamics of some commercial companies and countries.

According to a report by “Diario de Sevilla” on the 29th, the city council of the Spanish city of Lebrija created a virtual currency called elio, which can only be used to pay for small and medium-sized enterprises. The main purpose it was created is to support economic activities during the COVID-19 pandemic. One elio is equivalent to one euro, and nearly 600 families will receive subsidies ranging from 20 elio ($24.50) to 200 elio ($244.96), and the money can only be consumed by local businesses through the app. According to reports, the deadline for using elio is December 31, but it has been extended to March 31, 2021.

Simplex, an Israeli-based payment processing company, announced on Tuesday that it has become a major member of the Visa network. This means that Simplex can now issue Visa cards, allowing consumers to use digital currency every day. Cuy Sheffield, Visa’s head of cryptocurrency, said that Visa is happy to cooperate with leading financial technology companies such as Simplex. They are helping to achieve simple, secure and compliant conversion between cryptocurrency and fiat currency, and are able to use these funds in the Visa-supported network of more than 60 million merchants. And Simplex launched its own platform in 2014, allowing consumers to use credit cards to purchase digital currency through Simplex.

Recently, the New York Department of Financial Services issued a trust charter to GMO-Z.com Trust Company, allowing it to issue, manage and redeem Japanese Yen stablecoin linked to the U.S. dollar in New York. This yen stablecoin will also be the first stablecoin open to the public. GMO is an Internet group headquartered in Tokyo, which claims to be the world’s largest online foreign exchange trading platform, and the charter makes GMO one of 27 companies licensed to engage in virtual currency activities in New York. Ken Nakamura, President and CEO of GMO-Z.com Trust, said in a statement: “We are launching the first Japanese Yen stablecoin because many people consider it a safe-haven asset.”

About ZB Group

ZB Group was founded in 2012 with the goal of providing leadership to the blockchain development space and today manages a network that includes digital assets exchanges, wallets, capital ventures, research institutes, and media. The Group’s flagship platform is ZB.com, the industry leading digital asset exchange. The platform launched in early 2013 and boasts one of the world’s largest trading communities.

ZB Group also includes ZBG the innovative crypto trading platform, and BW.com, the world’s first mining-pool based exchange. Other holdings include wallet leader BitBank.

Industry intelligence and standards are headed by the recently launched ZB Nexus who embody the core values of ZB Group and open-source their reports and analysis for the public.

Learn more about ZB Group by visiting www.zb.com.



ZB Academy

The world’s leading cryptocurrency exchange: www.zb.com. ZB Academy is to provide prefessional blockchain insights.