Hedge investment mogul: Bitcoin finally reaches $500,000! Its fund Q3 exposure to cryptocurrencies increased by 150%

U.S. hedge fund SkyBridge Capital founder Anthony Scaramucci's flagship investment vehicle increased its exposure to underlying crypto assets by nearly 150 percent in the third quarter.

SkyBridge Multi-Advisor Hedge Fund Portfolios' investments in digital funds and securities totaled $485 million at the end of September, up from $195 million in the previous quarter, according to a filing with regulators this week. This increase reflects new investments and market value growth. The fund's net assets declined about 10 percent to $2.4 billion, driven by redemptions.