Bottom or No Bottom for Bitcoin? Skybridge Capital’s Anthony Scaramucci gives his opinion

Cryptos, Davos ready to take an interest in them now? – Landmark for all budding economists and forecasters of trends, the Davos Economic Forum (WEF) is The Place To Be for a few days. And the various stakeholders rave about cryptoslikeAnthony Scaramuccifounder of Skybridge capital. Decryption.

The head of Skybridge in full transparency at the Davos Forum

Anthony Scaramucci, DCG bankruptcy in sight?

that Davos WEF is being held right now, from 16 to 20 January 2023, in the heart of the Swiss Alps. The crème de la crème of bosses and political leaders meet during the summit to address climate issues, international and financial issues… And to try to find solutions. And among these, cryptos could well have their place. Anthony Scaramuccithe founder of Skybridge capitalan investment fund of almost 2.2 billion dollars of assets, has in addition Express on this topic.

He is primarily asked about current events. Namely the current setbacks on the side Digital Currency Group (DCG). Actually the company founded by Barry Silbert since the beginning of the year had proved unable to honor reminders from the head of the American stock exchange twin, Cameron Winklevoss. DCG has now announced this suspend shareholder dividends so far. So the question the market is asking now is exactly what Scaramucci is asking. Will crypto dominoes still fall in the coming months?

Digital Currency Group about to fall? The fear of the head of Skybridge Capital

>> Want to trade Bitcoin and cryptocurrencies without breaking the bank? AscendEX opens its arms to you (commercial link) <

The boss of Skybridge, his vision of the current bear market

To answer, the boss of the Skybridge draws a parallel with the fall off Lehman Brothers in 2008. The market only bottomed out a year later, in 2009, when all doubts had been removed.

“I see another 3 or 4 months of negative activity from a few industry leaders. I hope and pray so though DCG does not go bankrupt. »

One thing is for sure, the longer time passes, the greater the chances of seeing another domino fall in theory. On the other hand, Scaramucci advises to look beyond short-term incidents and take a long-term view of the crypto sector.

“If you’re a long-term investor, you shouldn’t be looking at it daily [en parlant de Bitcoin]. […] I haven’t lost a single bitcoin. […] Its price may temporarily be pegged differently in dollars today than it was [lors de son ATH en 2021 par exemple]. […] But if we look at 3 or 5 years from now, I think we will be very good. »

The head of Skybridge even takes the risk by giving his opinion on the underlying trend Bitcoin price in the current period.

“I encourage people to invest now. We are closer to a bottom than to find the next top. »

The running of the bulls, a recovery on our doorstep for 2023?  It's the awards party for the head of Skybridge Capital who insists on having a 3 to 5 year vision.
Has the bottom finally been reached? Time to invest? Skybridge boss gets wet

Sam Bankman-Fried, Scaramucci’s failed trust

Scaramucci also makes a long return on the FTX case after which he suffered heavy losses. Especially a purchase of $10 million in FTT tokens in return for Sam Bankman-Fried’s $45 million investment in his foundation. A purchase that he cashed in on $9.6 million in losses. Anthony also considered Sam a friend and feeling deeply let down of the young businessman whom he had “sat at the VIP table”. A prestigious table of directors of venture capital funds (venture capital) and respected hedge funds.

“If you were there during the Russian debt crisis [en 1998] which John Meriwether helped to enhance, or during the Bernard Madoff Ponzi exposed in 2008, one had used too much leverage, Meriwether, the other was a fraud, Madoff. It’s as if John Meriwether and Bernie Madoff had a biological child. That kid is Sam Bankman-Fried. »

Despite these disappointments, Scaramucci remains very bullish on the long-term crypto market. During a dinner with CZ in December, the binance boss has also told him that this market, and Bitcoin in particular, has so far been a true Swiss watch in terms of the 4-year cycle that separates each Bitcoin halving. Why would that change?

Now is the time to enjoy a cigar (in moderation) and a glass of rum (in even more moderation), and go ahead and sign up for AscendEX! To trade cryptocurrencies without breaking the bank, take advantage of a 10% reduction on trading fees (commercial link, see site conditions).

Leave a Comment