Founder of SkyBridge Capital Backs Bitcoin To Hit $100K By 2022
Anthony Saramucci, the Chief Executive Officer of Skybridge Capital, an investment firm managing over $9.2 billion of the hedge fund, predicts that Bitcoin will hit $100,000 by 2022. The analyst, who was also a communication director in the Trump administration, said that given the positive outlook that Bitcoin has, there is a great possibility that Bitcoin will surpass the 6-digit mark. In Dec. 2021, Saramussi’s firm applied to the US SEC for approval of the crypto fund. In January this year, his firm, SkyBridge Fund Ltd, launched its investment drive and declared it open to the public.
Bitcoin to Serve as Benchmark for Other Assets– Saramucci
In one of his releases, Saramucci explained that part of his company’s mission was to make the hedge fund industry open and transparent. However, he admitted that Bitcoin was not easy to buy. But he saw a huge potential for Bitcoin in years to come. Presently, SkyBridge Bitcoin Fund has already hit $100million, and he sees the future as bright as ever. Overall, Skybridge has in total approximately $500million worth of Bitcoin.
Scaramucci sees Bitcoin as a future benchmark of other assets, a position gold was known for in the past. He noted that no matter the nature of your asset– bonds, stocks, Forex, gold; Bitcoin will share a certain amount of your holdings. He added that once Bitcoin is now part and parcel of every asset, the future belongs to Bitcoin. In essence, if you are yet to invest in Bitcoin, you are inevitably shorting Bitcoin.
Scaramucci observed that what characterized the crypto market last week is termed short squeeze, which is synonymous with what occurred to Tesla when those skeptical about Tesla had already exhausted their short positions. The same condition seems to be repeating itself in Bitcoin.
Another Analyst Sees Bitcoin Hitting $200,000
Meanwhile, Ali Mizani of Switzerland sees Bitcoin climbing above $200,000 by 2022 end. Some crypto analysts assert that the continuous rise in the rate of infection of the COVID-19 pandemic is positively affecting the crypto market. Some pundits also see the overall interest rates in currencies worldwide and the pandemic as motivating factors for investors to seek refuge with cryptocurrencies. Hence, investors are determined to diversify a large part of their assets away from stocks, property, and other traditional investments.
DeVere Group’s research showed that more than 70% of influential people and investors believe that cryptocurrencies will keep rising in years to come. Analysts hinge their bullish outlook for the digital asset on institutional investors’ renewed interest to join the crypto ecosystem. Furthermore, there is a likelihood that cryptocurrencies will be listed on the Nasdaq, a development that will boost the digital currency’s acceptance.
Scaramucci explained that the COVID-19 pandemic broke out in March last year foiled his financial goal for the year. But April saw a growth of over 30%, and since then, Bitcoin has been rising rapidly. He was happy that Skybridge Fund capitalized on Bitcoin’s unprecedented move last year to make millions of dollars in profits. Nevertheless, he acknowledged the risk posed by the volatility of Bitcoin as the cryptocurrency tends to make surprising moves at times.