SkyBridge Capital’s founder Anthony Scaramucci has noted that he believes focusing his global investment firm on crypto can help skyrocket its assets to $10 bn.
Why Anthony Scaramucci Is So Bullish In Crypto?
Speaking in an interview with Bloomberg, Scaramucci stated that cryptocurrencies have generally become the new focus of SkyBridge Capital, revealing that almost half of the firm’s assets under management (totalling $3.5 billion) are directly linked to crypto and crypto-related stocks which include Algorand, Bitcoin, Ethereum and crypto-mining stocks such as Riot Blockchain.
He then went on to mention how he thinks this new investment approach could help triple the firm’s assets.
Speaking further, Scaramucci noted that this decision to focus on crypto was made during the pandemic.
“There’s a pre-pandemic world and a post-pandemic world, and a post-pandemic world has a lot more government deficits–it has a lot more uncertainty related to growth”, Scaramucci told Bloomberg.
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He pointed out the inflation of recent times and the need to put oneself “in a position to be in very high-growth-oriented places”, stating that at SkyBridge Capital, they believe “crypto markets represent tremendous growth”.
2024 U.S. Election Candidates Will Be Pro-Crypto
Also speaking with Bloomberg, SkyBridge’s Director of Business Development, John Darsie revealed that part of the reason for the newer crypto outlook was because they are “extremely bullish” on the crypto sector.
Scaramucci, who is also former White House Director of Communications, said he believes the both candidates of the 2024 US elections will be pro-crypto.
Scaramucci has obviously become quite the crypto enthusiast alongside his team, and this sentiment has reflected in how SkyBridge Capital operates in terms of digital asset adoption.
Mid last year Scaramucci told CNBC that SkyBridge Capital has about $500 million in Bitcoin, revealing how he thinks the firstborn crypto is set to replace gold due to its outstanding performance.
Furthermore, in September last year, SkyBridge Capital announced a partnership with “The New Asset Exchange” – NAX which was aimed at offering institutions access to DeFi opportunities through a $250 million fund between both firms and Algorand.
With the volatility of the crypto markets which Scaramucci himself has acknowledged, it looks to be seen how further ahead these new adoptions will push the firm.
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