Anthony Scaramucci, the founder and CEO of the SkyBridge Capital investment management fund, is a Bitcoin, Ethereum, and other digital currency lover.
He stated why he remains positive on Bitcoin and Ethereum in a recent broadcast of CNBC’s Squawk Box, while crypto critic Peter Schiff mocks his appearance and bullish speech as the crypto market continues to tumble.
In Bitcoin, there is a “flight to quality”
Despite the general crypto market bloodbath driven by Bitcoin, Scaramucci stated he is heartened by the fact that Bitcoin controls more than half of the whole crypto market valuation.
It’s just another indicator that “there’s a flight to quality there,” as he put it. He has explained the current slaughter caused by the Federal Reserve’s decision to raise interest rates by 1-2 percentage points, as well as the added market pressure caused by the Celsius situation.
The CEO of SkyBridge compared the current situation to that of six weeks ago, when Bitcoin and the entire market were falling due to the historic interest rate hike and the Terra network’s failure, as well as its coins LUNA and UST, which lost their USD peg.
SkyBridge buying more BTC and ETH
Anthony Scaramucci also compared the current sell-off to the web1 businesses’ meltdown in 2000, when nearly all internet companies’ shares, with the exception of Amazon, plummeted.
He advises investors to maintain their focus. Scaramucci stated that SkyBridge Capital had purchased more Bitcoin and Ethereum when asked by host Andrew Dorkin whether that means “buy the dip.”
Furthermore, the capital is invested in the FTX exchange, which he describes as a thriving business.
Scaramucci’s remarks has prompted a response from Peter Schiff
The presence of BTC bull Scaramucci on CNBC amid the crypto market massacre, according to prominent Bitcoin critic Peter Schiff, was an attempt to “pump Bitcoin.”
CNBC has brought out “its normal Bitcoin pumpers” once again, he tweeted. According to Schiff, Scaramucci was invited to speak in order to discourage investors from abandoning the crypto market and selling their dwindling holdings.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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