SkyBridge Capital’s Anthony Scaramucci Suggests Bitcoin Price Concerns “Take a Chill Pill”

The director of SkyBridge Capital remains optimistic despite the drop in the price of Bitcoin, and in addition to reminding people that this is a long-term investment, he claims to believe that this drop will not last for long.

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The CEO and founder of SkyBridge Capital, Anthony Scaramucci, said he felt calm despite the drop seen in the price of the main cryptocurrencies, and I invite people who are especially concerned about this fact to take a pill to relax as the market downturn probably won’t last long.

Scaramucci recommends “take a pill” to calm down

This was indicated by Scaramucci himself in an interview for the program Squawk Box transmitted by the CNBC yesterday, where he shared some details about the current state of the cryptocurrency market after the fall capitalized during the last month, which led to Bitcoin to lose more than 30% of its price compared to what was seen in December 2021.

Faced with concerns about the price of Bitcoin and other cryptocurrencies, Scaramucci commented the following:

“Take a chill pill, stay long in Bitcoin, other cryptocurrencies like Algorand and Ethereum, and I think you’ll be very well served long-term in those investments.”

The manager also took advantage of the space to refer to those who rate the digital currency poorly, suggesting that they are all long-term investors and stand firm when the market follows a favorable course, but when short-term losses occur they are uneasy and They tend to act out of fear.

A long-term bet

With all the experience it has in the sector of Bitcoin, For Scaramucci, the panorama is very clear, which is why he maintains that the main cryptocurrency is one of the best investments that can be made in the long term.

“To me, this is an emerging technology that will eventually become a store of value as more and more people join the network.”

Keep in mind that Scaramucci himself was one of the reputable people who made one of the most ambitious estimates for the price of Bitcoin going forward, projecting that each unit of the cryptocurrency could easily be worth about $500,000 in the next few years:

“I’m trying to do my best to explain to them why they need to own this right now… These coins will easily trade at $500,000 per Bitcoin.”

Let’s also remember that your company, SkyBridge Capital, currently has before the US Securities and Exchange Commission (SEC) a request for the creation of a ETF based on Bitcoin. However, there are few expectations that the proposal will be approved precisely because of the agency’s doubts regarding the volatility of its price and the risks of manipulation of its market by exchanges.

Recommended reading

Fountain: Decrypt, CNBC

Angel Di Matteo version / DailyBitcoin

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WARNING: This is an informative article. DiarioBitcoin is a means of communication, it does not promote, endorse or recommend any investment in particular. It is worth noting that investments in crypto assets are not regulated in some countries. May not be suitable for retail investors as the full amount invested could be lost. Check the laws of your country before investing.