The head of the hedge fund believes that BTC is trading 70% below fair value
The founder of SkyBridge Capital, Anthony Scaramucci, believes that bitcoin is trading much below its real fair value and its bottom has already been reached
According to him, his company's metrics estimate BTC at about $40,000, and now it is trading 70% below fair value:
"We believe that the creditworthiness has left the system. I do not think that the BTC rate will fall below the already reached minimum of about $17,500. According to our fair market value metrics, which take into account the pace of implementation, the growth in the number of wallets and use cases, now the fair market value of BTC is about $40,000"
Scaramucci suggests that ETH is also undervalued and its fair value is about $2,800, and technical indicators indicate a strong oversold BTC and ETH. However, due to macroeconomic obstacles, there may not be a sharp growth of the crypto market in the near future:
"We act as net buyers and as soon as additional funds arrive in our funds, we purchase BTC and ETH, as we believe that they are fundamentally undervalued and technically oversold. It should be borne in mind that these are volatile assets and prospects for 4-5 years should be considered"
He also believes that the inflation affecting the markets will weaken by the end of the year:
"The second half of the year will surprise people, because there is already a slowdown in consumption. Most likely, there will be a shallow recession, as people have huge savings. In addition, there are more jobs than people looking for work"
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