Anthony Scaramucci is enthusiastic about Bitcoin amid market fall, and he urges investors to be patient
Anthony Scaramucci is the founder and CEO of wealth management fund SkyBridge Capital, and he is enthusiastic about Bitcoin, Ethereum, and some other digital currencies.
In his interview on the recent episode of CNBC’s Squawk Box, he revealed why he remains bullish on Bitcoin and ETH, while crypto critic Peter Schiff mocks his appearance and bullish speech as the crypto market keeps plummeting.
“There is a flight to quality” in Bitcoin
Scaramucci said that despite the overall massacre in the crypto market led by Bitcoin, he remains encouraged by the fact that Bitcoin holds over 50% of the total crypto market capitalization.
It is one more sign that “there’s a flight to quality there,” he stated. He has explained the current bloodbath by the Federal Reserve raising interest rates 1-2% and additional pressure on the market from the Celsius situation.
The SkyBridge official compared the current situation to six weeks ago, when Bitcoin and the broader market were down due to the historic rise in interest rates and the collapse of the Terra network, as well as its LUNA and UST coins, when the latter lost its USD peg.
SkyBridge buying more BTC and ETH
Anthony Scaramucci also compared the current sell-off to the crash of web1 companies in 2000, when shares of nearly all internet companies—aside from Amazon—plunged.
He advised investors to remain disciplined. Responding to host Andrew Dorkin, if that means “buying the dip”, Scaramucci admitted that SkyBridge Capital has been buying more Bitcoin and Ethereum.
Besides, the fund is invested in the FTX exchange, and he called it a profitable company.
Peter Schiff comments on Scaramucci’s speech
Prominent Bitcoin critic Peter Schiff explained the appearance of BTC bull Scaramucci on CNBC amid the crypto market bloodbath as an attempt to “pump Bitcoin.”
He tweeted that CNBC has again brought out “its regular Bitcoin pumpers.” As per Schiff, Scaramucci was invited to speak in order to prevent investors from jumping ship and selling their crashing crypto.
“Bitcoin is going to the moon after all”: Schiff
Schiff posted several tweets related to Bitcoin and its plunge today. In one, he sarcastically stated that Bitcoin was indeed going to the moon. The only thing is, he noted, that BTC is heading there from Pluto.
When BTC flies past the moon and hits the earth, the landing will not be soft. As reported by U.Today on Sunday, Schiff expects Bitcoin to fall to $20,000 and Ethereum to decline to the $1,000 level.
