Anthony Scaramucci, founder of asset management firm SkyBridge Capital, said Tuesday that now may be the time to invest as the price of bitcoin may be nearing an all-time low.
Speaking to popular media at the World Economic Forum’s annual meeting in Davos, Scaramucci said long-term cryptocurrency investors should maintain a 3- to 5-year outlook and focus on day-to-day performance. argued that it was necessary to
“I encourage people to invest,” said Skybridge Capital CEO, adding, “We are closer to the bottom than we are to another peak.”
SkyBridge Capital manages $2.2 billion, including over $800 million in digital asset-related investments. Last September, Sam Bankman-Fried’s FTX acquired his 30% stake in SkyBridge Capital.
Scaramucci said in an interview that he considered SBF a friend.
Several data sources have revealed that SkyBridge plans to buy back its stake from FTX in the middle of this year.
“We are awaiting approval from the bankruptcy, lawyers and investment bankers to know exactly when and what to buy back.”
Scaramucci said he received funding from FTX in exchange for a 30% stake in Skybridge Capital, invested $10 million in FTT tokens, and then sold it at a loss of $9.6 million.
“We are very bullish,” Scaramucci said, adding, “I don’t think you can predict these short-term markets.”
The fall of FTX has pushed the crypto industry back several years. Companies exposed to FTX were adversely affected, with several companies filing for bankruptcy shortly after FTX. Confidence in the industry must have taken a hit, but the technology remains promising. Anthony Sacaramucci will invest in a crypto company founded by former FTX US president Brett Harrison.
Anthony has agreed to invest in a new crypto company, according to Bloomberg. The idea for this new company came just three weeks after the FTX impact.
The unnamed crypto software company is expected to allow crypto traders to create strategies based on algorithms and access both decentralized and concentrated markets. Harrison is seeking a goal of $10 million at a valuation of $100 million.
In a long Twitter thread on January 14, 2023, Brett Harrison explained how FTX US works and what Sam Bankman-Fried does to his employees and subordinates. Anthony responded to the tweet saying he was “proud” to be an investor in Harrison’s new company.
Steve Anderson is an Australian cryptocurrency enthusiast. He has been a management and trading expert for his 5+ years. Steve works as a crypto trader and loves learning about decentralization and understanding the true potential of blockchain.
