The chief executive of hedge fund SkyBridge Capital reportedly says that an “enormously bullish” indicator is hinting at a rebound for risk assets and crypto.
According to a new report by Bloomberg, Anthony Scaramucci says that he believes the U.S. Federal Reserve will pause its monetary tightening policies once it reaches its goal, sparking a crypto rally and the “rebirth of risk assets.”
“I do believe that the Fed declares victory at 4% to 5% inflation. If I’m right, there will be a resurgence in the market. There’ll be a lot of short covering in crypto and there’ll be a rebirth of risk assets.”
According to Scaramucci, another massive bullish indicator is the heightened pessimism displayed by world leaders toward digital assets at the most recent World Economic Forum in Davos.
In the report, Scaramucci also details SkyBridge Capital’s exposure to bankrupt crypto exchange FTX, saying that the firm purchased $10 million worth of FTX Token (FTT) only to sell it for $9.6 million a short while later.
Last week, Scaramucci had predicted that 2023 would be a “recovery year” for crypto assets, saying that markets are on track to recover from numerous high-profile collapses. At the time, he said he envisions greater adoption pushing Bitcoin (BTC) to a six-figure price tag.
Bitcoin is changing hands for $22,598 at time of writing.
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Original Post: ‘Enormously Bullish’ Indicator Suggesting Crypto Rebound, Says SkyBridge Capital CEO Anthony Scaramucci