SkyBridge Capital CEO Anthony Scaramucci in conversation with business insider refrained from forecasts regarding the dynamics of bitcoin and the situation on the market. He advised investors to “stick to quality assets” and be prepared for any turnaround.
“Anything you think can’t happen in the markets can happen. […] The goal is to hold the position for a long time. […] The same goes for blockchain technology: if you believe that this is the future of financial innovation and will be used for transactions, then you should own assets like Bitcoin and Ethereum,” said Scaramucci.
In his opinion, investors should be able to withstand the volatility associated with the sector. One of the points of concern, the head of SkyBridge Capital called the lack of market liquidity in cryptocurrencies.
He cited the collapse of the Terra ecosystem as an example. May non-profit organization LFG spent about 26.3 million USDT, about 23.5 million USDC and 33,206 BTC from the reserve fund to support the peg of TerraUSD (UST) to the dollar.
Against the background of events with the algorithmic stablecoin and collapse of LUNA Bitcoin quotes fell below $27,000, and the price of Ethereum tested the $1,800 level. Scaramucci noted the impact of the Terra incident on the entire market.
At the same time, he recalled that SkyBridge Capital has taken a large position in Algorand. In September 2021, the company raised $100 million in a blockchain-focused fund.
According to the head of SkyBridge Capital, he was impressed by the project, its founder Silvio Micali and the community.
“I love technology. I obviously like cryptocurrencies. I would like to invest in these areas right now, because I think they are very cheap,” said Scaramucci.
He also added that he holds a large position in the shares of the bitcoin exchange Coinbase. According to him, the price of ~$64 is “ridiculously cheap”.
Recall that in early 2022, Scaramucci advised hodlers to calm down and “stay long on Bitcoin and other cryptocurrencies such as Algorand and Ethereum.”
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SkyBridge Capital CEO Anthony Scaramucci in conversation with business insider refrained from forecasts regarding the dynamics of bitcoin and the situation on the market. He advised investors to “stick to quality assets” and be prepared for any turnaround.
“Anything you think can’t happen in the markets can happen. […] The goal is to hold the position for a long time. […] The same goes for blockchain technology: if you believe that this is the future of financial innovation and will be used for transactions, then you should own assets like Bitcoin and Ethereum,” said Scaramucci.
In his opinion, investors should be able to withstand the volatility associated with the sector. One of the points of concern, the head of SkyBridge Capital called the lack of market liquidity in cryptocurrencies.
He cited the collapse of the Terra ecosystem as an example. May non-profit organization LFG spent about 26.3 million USDT, about 23.5 million USDC and 33,206 BTC from the reserve fund to support the peg of TerraUSD (UST) to the dollar.
Against the background of events with the algorithmic stablecoin and collapse of LUNA Bitcoin quotes fell below $27,000, and the price of Ethereum tested the $1,800 level. Scaramucci noted the impact of the Terra incident on the entire market.
At the same time, he recalled that SkyBridge Capital has taken a large position in Algorand. In September 2021, the company raised $100 million in a blockchain-focused fund.
According to the head of SkyBridge Capital, he was impressed by the project, its founder Silvio Micali and the community.
“I love technology. I obviously like cryptocurrencies. I would like to invest in these areas right now, because I think they are very cheap,” said Scaramucci.
He also added that he holds a large position in the shares of the bitcoin exchange Coinbase. According to him, the price of ~$64 is “ridiculously cheap”.
Recall that in early 2022, Scaramucci advised hodlers to calm down and “stay long on Bitcoin and other cryptocurrencies such as Algorand and Ethereum.”
Subscribe to Cryplogger news in Telegram: Cryplogger Feed – the entire news feed, Cryplogger — the most important news, infographics and opinions.
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