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Anthony Scaramucci, the founder of asset management firm Skybridge Capital, said on Tuesday that the price of bitcoin may be nearing its all-time low, so now may be the time to invest.
While talking to a popular media outlet during the World Economic Forum’s annual conference in Davos, Scaramucci argued that long-term crypto investors must maintain a three- to five-year outlook and focus on day-to-day performance.
Skybridge Capital’s CEO said, “I’m encouraging people to invest now,” he added, “We’re closer to the bottom than we are to another top.”
SkyBridge Capital is managing over $2.2 billion, including over $800 million in digital asset-related investment. In September last year, Sam Bankman-Fried’s FTX took a 30% stake in SkyBridge Capital.
Scaramucci said in the interview that he used to consider SBF his friend. He said it’s very clear that fraud had occurred, and the legal system should have to determine the case now.
Although several data sources disclosed that SkyBridge is planning to buy back its stakes from FTX in the middle of this year.
“We’re waiting for the clearance from the bankruptcy people, the lawyers and the investment bankers to figure out exactly what we’re going to be buying back, and when.”
Scaramucci said he received funding from FTX in exchange for a 30% stake in Skybridge Capital and invested $10 million in FTT tokens, which he later sold at a loss of $9.6 million.
Scaramucci said, “ we’re very bullish,” he added, “I don’t think you can predict these market short terms.”
FTX collapse pushed the crypto industry years back. The companies that were exposed to FTX were adversely affected, with several filing for bankruptcy soon after FTX. While trust in the industry must have taken a hit, the technology is as promising as ever. Anthony Sacaramucci is going to invest in a crypto company founded by Brett Harrison, the former FTX US president.
Per Bloomberg, Anthony has agreed to invest in the new crypto company. The idea of this new firm was revealed just three weeks after the FTX fallout.
The unnamed crypto software company is expected to enable crypto traders to create strategies based on algorithms to access both decentralized and centralized markets. Harrison is seeking a target of $10 million with a valuation of $100 million.
Brett Harrison in a long Twitter thread on January 14, 2023, explained the workings at FTX US and Sam Bankman-Fried’s behavior with employees and subordinates. Anthony replied to a Tweet saying that he was “proud” to be an investor in Harrison’s new company.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
