The year 2022 has not only been tough for cryptocurrency prices. Anthony Scaramucci’s SkyBridge Capital hedge fund also lost more than 39 percent of its value in 2022. According to Bloomberg that had to do with the falling prices of cryptocurrencies and the failure of FTX.
Investors run away
Investors hoped to raise 60 percent of SkyBridge Capital’s capital in September, but the fund did not allow that. In the end, the investors only received 10 percent of the capital. For the upcoming March recording period, SkyBridge Capital plans to release only 5 percent of it for recording.
In this way, the fund hopes to keep as much capital on board as possible. Despite the huge losses, Scaramucci has not lost confidence in the industry. According to the fund’s founder, this is even a good time to invest. In a recent interview with Scott Melker, he says he expects the US central bank to change course soon.
Change of course Federal Reserve
If it’s up to Scaramucci, that Federal Reserve’s course change is exactly what Bitcoin needs. “It’s impossible for the Federal Reserve if you have $31 trillion in debt […]to get things done financially. Interest payments alone will add up to $1 or even $1.5 trillion a year with these rates,” Scaramucci said clearly.
According to the investor, the mountain of debt is simply too large to continue in this way. Ultimately, according to Scaramucci, that fact should ensure that Bitcoin can start a new run up again. He does not yet know exactly where that will take Bitcoin, but the founder of SkyBridge Capital is betting on a new bull market. That is something that we can really use within the industry after the dramatic year 2022.