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SkyBridge Capital founder Anthony Scaramucci expects Fed will suspend the campaign to raise the base rate until the inflation target of 2% is reached. This will lead to a rally in high-risk assets like Bitcoin, the investor said in an interview with Bloomberg.
“I really believe that the Fed will declare a victory at 4-5% inflation. If I’m right, the markets will recover. There will be a lot of short liquidations in cryptocurrencies and there will be a resurgence of risky assets,” said Scaramucci.
The SkyBridge Multi-Advisor Hedge Fund Portfolios Series G is approximately 10% Bitcoin positions. According to Scaramucci, even if the cryptocurrency grows, the company does not intend to increase this share, but rather is ready to “scale to other things.”
In September 2022, the investment arm of FTX acquired a 30% stake in SkyBridge. The company used investments in the amount of $45 million to purchase FTT tokens, which they then sold with a loss of $9.6 million.
“I don’t hide it. I am sure that for people who believe in capitalism and understand the risks associated with it, it is important to understand what happened. I won’t risk any less in the future because I burned myself on Sam. [Бэнкмане-Фриде]”, – said Scaramucci.
In his opinion, the “extreme pessimism” regarding cryptocurrencies, which world leaders demonstrated at the World Economic Forum in Davos, is an “extremely optimistic” signal for investors in digital assets.
According to analysts, the central bank will raise rates by another 25 basis points on February 1. CME Group’s FedWatch tool indicates a 99.8% chance of reaching the 4.5-4.75% levels.
Recall that the increase in the price of bitcoin after the tightening of the monetary policy of the Fed was also predicted by the head of Galaxy Digital, Mike Novogratz.
Is there fuel for a Bitcoin rally in 2023?
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