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

While SkyBridge continues to allocate money to funds run by other asset managers, SkyBridge's exposure to digital currencies has increased as Scaramucci has become bullish on cryptocurrencies. He told the media on Nov. 12 that the price of bitcoin could eventually reach $500,000.

SkyBridge Multi-Adviser added five new crypto investments in the third quarter, including a $22.6 million convertible note issued by New York Digital Investment Group and a $35.4 million private equity vehicle - -an equity stake in Genesis Digital Assets Ltd. SkyBridge also invested about $13 million in Coinbase stock, according to a filing on Monday.