Anthony Scaramucci, founder of SkyBridge Capital, expects the Fed to halt its rate hike campaign when the 2% inflation target is reached, which he says will lead to a rally in high-risk assets such as Bitcoin, Bloomberg has reported.
During an interview with the publication, he has said:
"I do believe that the Fed declares victory at 4% to 5% inflation. There’ll be a lot of short covering in crypto and there’ll be a rebirth of risk assets."
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The SkyBridge Multi-Adviser Hedge Fund Portfolios Series G fund has approximately 10% Bitcoin positions. According to Scaramucci, even if the cryptocurrency grows, the firm does not intend to increase this holding, but is ready to "scale into other things."
Recall that FTX's investment branch acquired a 30% stake in SkyBridge in September last year. The company used $45 million to buy FTT tokens, which it then sold at a loss of $9.6 million.