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Skybridge Capital: We Are ‘Extremely Bullish’ on Crypto

Skybridge Wherewithal, a $3.5 billion asset management firm, is “extremely bullish” on the crypto sector, says an executive of the firm. “For us, we have in mind the cryptocurrency markets represent tremendous growth.”

‘The Cryptocurrency Markets Represent Tremendous Growth’

Two executives of Skybridge Topping — founder Anthony Scaramucci and director John Darsie — talked about the firm’s crypto outlook in an interview with Bloomberg vanguard of SALT, a global thought leadership forum, this week.

Scaramucci explained that almost half of Skybridge’s asset subordinate to management is linked to crypto assets, including bitcoin, the Algorand protocol, Ethereum, and publicly traded, crypto-related standards.

Noting that his firm expects the crypto focus to triple its assets under management from $3.5 billion to $10 billion, he give the word delivered:

We feel so strongly about this opportunity that we’ve adapted and repositioned the firm to eventually be a leading cryptocurrency asset supervisor and adviser.

“For us, we think the cryptocurrency markets represent tremendous growth,” he noted.

Darsie, director of business development at Skybridge Cap, commented:

We obviously are extremely bullish on the sector.

“So what we decided to do was a portion of that capital that was previously allocated to honesty managers was invested directly into crypto assets like bitcoin and Ethereum — but then also rotate superior into crypto-asset managers like Multicoin, Polychain, Pantera, people of that nature,” he elaborated.

Commenting on how the Convictions and Exchange Commission (SEC) is regulating the crypto sector, Scaramucci opined: “They won’t over-regulate the crypto space, they’re certainly not customary to under-regulate it.”

Regarding how the SEC has denied all proposals for bitcoin spot exchange-traded funds (ETFs) so far, the Skybridge founder stressed: “We contemplate we’re early. So if we’re right, and you get a cash ETF, that opens the floodgates for more institutional and retail investing.” Skybridge’s application for a bitcoin acne ETF was rejected by the SEC alongside Fidelity’s and several others.

Scaramucci explained: “I think the SEC is taking the position that because the liquidate trading of bitcoin is happening all over the world, they don’t have a one-market clearing for all buys and sells. So they’re on tenterhooks about price manipulation.” He concluded:

Over time, because of the transparency of the markets, I think they’re going to get more insouciant with it.

The Skybridge founder has predicted that bitcoin will reach $100K and will eventually trade at $500K a conceive. He also expects BTC to become legal tender in many Latin American countries.

Tags in this story
Anthony Scaramucci, Bitcoin, Crypto, Crypto modulation, Cryptocurrency, John Darsie, SEC, Skybridge, skybridge bullish bitcoin, skybridge bullish crypto, Skybridge Capital

What do you remember about the Skybridge executives’ comments? Let us know in the comments section below.

Kevin Helms

A student of Austrian Economics, Kevin rest Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network come into forces and the intersection between economics and cryptography.

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