Davos 2023: Scaramucci’s SkyBridge bet on $35k bitcoin, estimates

By Divya Chowdhury and Lisa Pauline Mattackal

DAVOS, Switzerland (Reuters) – SkyBridge Capital is betting on a permanent change in the cryptocurrency market in 2023, the company’s founder Anthony Scaramucci said, while admitting that this idea is “too weak” .

“If bitcoin can sell back to $35,000, SkyBridge will have an amazing year,” Scaramucci said at the Reuters Global Markets Forum in Davos, Switzerland.

In January, the crypto rally can be supported as 2023’s “halving”, when the number of new bitcoins issued is cut in half, which will stop the supply and increase the high prices, he said. .

Bitcoin is trading at $20,800, a 26% gain this year after falling over 64% in 2022.

SkyBridge has invested in bitcoin, ethereum, solana and altcoin algorand, and is also looking at the structure of the debt market to enter the 2023 return after the loss of the company in 2022.

“Scheduled debt, secured mortgages, personal loans, auto loans – this is a great opportunity,” Scaramucci said. As of last September, his company managed $2.2 billion, including $800 million in property-related investments.

Scaramucci confirmed that SkyBridge hopes to buy back a 30% stake from FTX before the middle of the year, but the timeline is uncertain. as the bankruptcy of the currency exchange proceeds, he said.

(Join GMF, a chat room hosted by Refinitiv Messenger: )

(Reporting by Divya Chowdhury in Davos; Additional reporting by Nishara Karuvalli Pathikkal in Bengaluru; Editing by Alexander Smith)

Leave a Comment