Skybridge founder and managing partner, Anthony Scaramucci, talked about his views on Bitcoin (BTC) and how FTX's Sam Bankman-Fried has impacted the market.
"I Keep Sticking To Bitcoin"
Answering Sonali Basak's questions in the Bloomberg broadcast he attended, Scaramucci answered the question of whether he moved away from Bitcoin after the decline in cryptocurrencies and FTX events. Scaramucci said in his statement:
“I remain committed to Bitcoin. I can't say that I changed my portfolio, I think we got the reward for it.
A lot has happened in the past year. You're talking about the Sam Bankman-Fried thing, it was a huge event. This event has almost everything in it. Fraud, leverage, overconfidence… This caused a great depression in the market, as a result of which the market moved excessively to the downside.
We think the true value of Bitcoin is around $40,000. Currently on the rise. It hovers between $25,000 and $27,000.
We are currently seeing better miner activity and increased wallet usage in BTC. We know that the global population using BTC currently stands at 4%.
Considering the current number of wallets, we can say that Bitcoin was at the level of 1998, the first years of the internet. We can see tremendous returns in BTC when we increase the global adaptation level from 4% to 8%. I want people to be patient.”
SkyBridge Capital is a global investment firm headquartered in New York, United States. It is managed by founder Anthony Scaramucci, Brett S. Messing, Raymond Nolte and Troy Gaveski. SkyBridge manages over $2.2 billion in investments, with more than $800 million in digital assets-related investments.
*Not investment advice.