Scaramucci 'Dumps' Bitcoin ETF... 'Goes All-In' on MSTR

▲ Bitcoin (BTC), MicroStrategy (MSTR)/AI-generated image

SkyBridge Capital, led by Anthony Scaramucci, made its first large purchase of MicroStrategy (MSTR) shares, while reducing its holdings in BlackRock's spot Bitcoin ETF, iBIT, and Circle Internet Group (CRCL). This move indicates an increased indirect bet on Bitcoin through MicroStrategy shares rather than direct Bitcoin (BTC) exposure.

According to CoinGape on May 25 (local time), SkyBridge Capital disclosed in its 13F filing with the U.S. Securities and Exchange Commission (SEC) that it purchased 70,284 shares of MSTR Class A stock in the first quarter of 2026. The purchase amounted to $7,029,806, marking SkyBridge's first acquisition of MicroStrategy shares.

Following this purchase, MSTR became the largest holding in SkyBridge's portfolio. MSTR's weighting accounted for 53.5% of the total investment portfolio. CoinGape reported that SkyBridge made a new entry into MSTR as MicroStrategy, which manages a large-scale corporate Bitcoin treasury strategy, continues its aggressive Bitcoin accumulation.

Scaramucci recently expressed his support for Michael Saylor. In a conversation with Mike Novogratz, he explained how MicroStrategy's 11.5% return structure through STRC benefits investors. He also positively evaluated MicroStrategy's debt-based Bitcoin accumulation strategy and its goal to increase enterprise value by continuously growing Bitcoin holdings per share.

Conversely, SkyBridge reduced its holdings in BlackRock's Bitcoin ETF and Circle. iBIT holdings decreased from 209,599 shares to 149,916 shares, with the value of these holdings totaling $5,759,773. Circle stock holdings also decreased by 50%, leaving only 332 shares, valued at $31,676.

CoinGape reported that Circle's stock price has risen by over 20% in the past month amid progress related to U.S. cryptocurrency market structure legislation. SkyBridge also held small stakes in Klarna Group (KLAR) and Chime Financial (CHYM). Additionally, it fully divested its stake in Forward Industries (FWDI), a Nasdaq-listed Solana (SOL) treasury company.

CoinGape analyzed that SkyBridge likely reduced its iBIT and Circle holdings to invest in MSTR. It also suggested the possibility that the sales occurred due to increased volatility and uncertainty in the cryptocurrency market amidst negative factors such as Bitcoin ETF outflows and the US-Iran conflict.

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