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Skybridge Estimates Bitcoin’s Fair Market Value at $40K and Ethereum’s at $2,800

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The founder of Skybridge Capital says Bitcoin has a fair market value of around $40,000 based on adoption, wallet size, use cases and wallet growth. The asset management company also estimated the fair market value of ethereum at around $2,800.

Skybridge Capital on the Fair Value of Bitcoin and Ethereum

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Anthony Scaramucci, founder and managing partner of global asset management firm Skybridge Capital, shared his firm’s predictions for Bitcoin’s fair market value (BTC) and ether (Ethereum) in an interview with Marketwatch published on Tuesday.

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He believes that the worst moments of the crypto bear market are over and bitcoin has already bottomed out. His comments followed the bankruptcy filings of a number of crypto firms, including Celsius Network and Voyager Digital.

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“We believe leverage has been thrown out of the system,” Scaramucci said. recognizing that BTC it could still fall, he stressed: “I don’t think it will go below the low it hit this cycle, which will be around $17,500.”

The founder of Skybridge Capital further shared:

Based on our fair market value metrics based on adoption, wallet size, use cases, wallet growth, we believe the fair market value of bitcoin is around $40,000 at the moment.

He added that the fair market value of Ether is around $2,800.

At the time of writing, Bitcoin is trading at $23,167.48, up 14% from the last 30 days. Ether is trading at $1,650.88, up 43% over the last 30 days.

Scaramucci does not expect the price of bitcoin to go up due to macroeconomic uncertainty. “Again, these are volatile assets. My guess is that the problem here is that people need to look at these assets in four to five years,” he warned.

The performer noted:

We are net buyers on margin as additional cash flows into our funds, we are net buyers of these two assets because we think they are fundamentally undervalued and technically oversold.

Last month Skybridge Capital suspended repayments in his Legion Strategies fund after a sharp drop in stocks and cryptocurrencies. About 20% of the fund was invested in private investments, and about 18% in crypto-related investments, including BTC and private investment in digital asset companies such as the FTX cryptocurrency exchange, he detailed.

Scaramucci confirmed that withdrawals were still on hold, adding that the move was necessary to maintain the composition of the fund after investment bank Morgan Stanley recommended the fund be sold.

“I cannot allow private investment to go off scale,” the Skybridge founder emphasized. “I can’t release everyone right now until I get proper equity and balance in the fund.” He revealed that the fund is currently selling some of its private investments, noting, “Once we have liquidity on these investments, we will allow anyone who wants to exit.”

Scaramucci has long said he expects the price of bitcoin to hit $100K this year and $500K in the long term. “If you want to zoom out and look at the long-term chart and adoption history, can bitcoin reach half a million dollars per coin? I believe it will be so,” he said in March. In June, he advised investors to “buy quality, play it safe and stay disciplined.” He noted that many coins would be destroyed.

Commenting on the US economy, the Skybridge chief said: “I think the second half of the year will surprise people because consumption has already slowed down.” He opined:

There will most likely be a shallow but not deep recession because people have huge savings. And there are more vacancies than people who are looking for them.

What do you think about Skybridge Capital forecasts? Let us know in the comments below.

Denial of responsibilityA: This article is for informational purposes only. This is not a direct offer or solicitation to buy or sell, nor is it a recommendation or endorsement of any products, services or companies. does not provide investment, tax, legal or accounting advice. Neither the company nor the author is directly or indirectly liable for any damage or loss caused or alleged to be caused by the use of or reliance on any content, goods or services mentioned in this article.

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