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

DAVOS, Switzerland, Jan 16 (Reuters) – SkyBridge Capital is betting on a continuous change in the cryptocurrency market in 2023, the company’s founder Anthony Scaramucci said, while admitting that this idea is “exaggerated the bullish”.

“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 loans, mortgages, personal loans, auto loans — that’s a wonderful 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.

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Divya Chowdhury reports on Davos; Additional reporting by Nishara Karuvalli Pathikkal in Bengaluru; Edited by Alexander Smith

Our standards: The Thomson Reuters Trust Principles.

(tagsTranslated)RSBI:INDUSTRIES

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