While the overall crypto market has been steadily declining since the beginning of 2022 the founder SkyBridge Capital Anthony Scaramucci is still very bullish about the future.

SkyBridge will be a leading provider of crypto assets

In an interview before the annual SkyBridge Alternatives Conference (SALT), which will be held this week, Anthony Scaramucci explained that the hedge fund is repositioning itself to “eventually be a leading cryptocurrency asset manager and adviser:”

Anthony Scaramucci said:

“We made a decision during the pandemic that we had to relitigate our entire portfolio. 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.”

According to John Darsie, SkyBridge’s director of business development, the firm made the decision to focus on crypto because of a “huge drawdown in the credit portion” of the firm’s hedge fund manager portfolio.

SkyBridge Bets on ‘Tremendous Growth’ for Crypto

Despite acknowledging the asset class’s volatility, Scaramucci asserted that, over the next three to five years, SkyBridge will lean further into the trajectory of crypto.

He underlined that, for SkyBridge, “we think the cryptocurrency markets represent tremendous growth. Darsie added that SkyBridge is “obviously extremely bullish on the sector.”

Flipside

• Prior to his bullish comments about Bitcoin, Scaramucci had raised concerns about some “absolutely despicable” U.S. politicians that could hamper the growth of the local sector.

What You Need to Care About

Skybridge is the manager of a Bitcoin Fund worth $7 Million and has worked to get approval by SEC for an ETF (spot BTC exchange-traded fund) from Skybridge.

Continue reading on DailyCoin