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SkyBridge bets on bitcoin reaching $35k

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SkyBridge Capital has adopted an “overly bullish” view on cryptocurrencies, says founder Anthony Scaramucci, and is betting that there will be a sustained turnaround in the digital assets space during 2023, according to a report by Reuters. 

SkyBridge Capital has adopted an “overly bullish” view on cryptocurrencies, says founder Anthony Scaramucci, and is betting that there will be a sustained turnaround in the digital assets space during 2023, according to a report by Reuters. 

The report cites Scaramucci as saying that “if bitcoin could trade back to $35,000, Skybridge is going to have an amazing year”.

Scaramucci, who was speaking at the Reuters Global Markets Forum in Davos, Switzerland, believes January’s crypto rally could be sustained as 2023’s “halving”, when the number of new bitcoins released is cut in half, will constrain supply and push prices higher.

Bitcoin is currently up 26% so far this year at around $20,800, after falling by more than 64% in 2022.

SkyBridge has invested in bitcoin, ethereum, solana and altcoin algorand, and is also eyeing the structured credit market to drive 2023 returns after the firm’s losses in 2022.
 

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