We Bought More Bitcoin and Ethereum During the Crash, Says Anthony Scaramucci

Anthony Scaramucci, founder of SkyBridge Capital, advised investors to keep their heads down in the midst of ongoing crypto chaos. He said that the selloff was similar to the 2000 Internet bubble burst and noted that some crypto gems would survive the winter like Amazon did twenty-two year ago.

“Stay Disciplined”

The bitcoin price plummeted to levels not seen in the past four quarters of 2020, as the chaos grew. ETH is worse off, trading below 2018 ATH. In his latest interview with CNBC, Anthony Scaramucci, a well-known investor, said that the crypto industry is currently teetering on the edge of panic and fear.

Scaramucci, who is known for his pro-bitcoin stance towards critics such as Warren Buffett, compared the current bear markets to the 2020 Internet bubble burst. He suggested that crypto gems such as bitcoin might be another Amazon stock because of the recent rise in bitcoin’s dominance within crypto markets.

“In 2000, many Internet stocks were crating for many Web1 stories. [They] went to zero, but there are still a few gems such as Amazon that did well.”

He cited Terra’s UST De-pegging Event and Celsius Network’s sudden decision to halt withdrawals, swaps and transfers between accounts, as two of the key catalysts for the bitcoin dump. He advised people to avoid leverage in such extreme circumstances.

Scaramucci has always been positive about the primary cryptocurrency but he warned investors to be careful with their BTC investments. He shared the following strategy in a previous interview:

“I don’t want my clients missing this. They need to properly size it – I tell them that they should allocate 1% to 3%, and 1% to 4 % at cost. It can be left to run, but it is possible. It is possible to size it up, but then you must recognize that this will be part of our future.

Continued Buying BTC & ETH

The bitcoin bull answered a question about whether staying disciplined meant “stacking Bitcoin” and added that his fund had continued to add bitcoin and ethereum to its portfolio. He also predicted that people would regret buying the dips in the future when they look back at this mess.

Scaramucci, who owns a private stake at FTX crypto exchange, also praised the company’s performance as a profitable business capable of rapidly expanding its market share.

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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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