Anthony Scaramucci, founder of SkyBridge Capital, said in an interview that he remains bullish on BTC -1.40%-news/">Bitcoin in the long-term despite the exodus of investors facing SkyBridge’s fund.
“Wallets are growing exponentially. Bitcoin transactions are growing exponentially… I think over time Bitcoin will be a system of peer-to-peer transaction channels for a large part of the economy. Underlying technologies like Ethereum ETH -1.70% or Algorand ALGO -0.70% will also be part of it part of it. So when I look at and study this technology, I find it hard to believe that it won’t be part of our future.”
Scaramucci admits that investing in Bitcoin may be a mistake in the short term, “but remember, everyone is a long-term investor until they make a short-term loss. I want to measure Bitcoin investing in four-year timeframes.” Scaramucci Also noting that “it’s ironic that we bought a Bitcoin-related position at $18,000, then the price of Bitcoin rose to $69,000 and then fell back to $22,000,” stressing that investors should remain calm and consider staying down.
As previously reported, Anthony Scaramucci said the Legion Strategies fund has no liquidation risk and will resume redemptions when the market improves. “While the Legion Strategies fund is down 30% this year, it has gained 5% this month. The fund has no leverage, so investors should never worry about any liquidation issues.”
