Anthony Scaramucci Admits His Bitcoin Mistake

AnalysisAnthony Scaramucci Admits His Bitcoin Mistake



Alex Dovbnya

SkyBridge’s Anthony Scaramucci believes that the Federal Reserve will reverse course by the end of the year

Contents

In a recent interview with CNBC, SkyBridge’s Anthony Scaramucci admitted that betting big on Bitcoin was a “mistake” from a short-term perspective:

Still, the prominent American financier remains bullish on the largest cryptocurrency in the long term. “I wanna measure the Bitcoin investment over a four-year interval. I think if you’ve held Bitcoin for a rolling four-year cycle, you have made money,” Scaramucci said.    

Bitcoin has been battered by recent interest rate hikes, but the investor believes that the U.S. Federal Reserve could switch its policy stance by the end of the year.

During the recent interview, Scaramucci has noted that there has been an “exponential” increase in the number of Bitcoin. The investor finds it hard to believe that cryptocurrencies will not be part of the future.    

The Amazon comparison

He mentioned that some investors bought the shares of Amazon into the March 2000 debacle.
   
Scaramucci recalled the bearish May 1999 Barron’s cover, which showed founder Jeff Bezos’ own face on a cartoon bomb that was about to explode. The cover was accompanied by the “Amazon.Bomb” headline. 

However, under Bezos’ leadership, Amazon managed to revolutionize two different industries: e-commerce and cloud computing. Bezos shared the doom-laden cover last October, getting the last laugh.  

This is not the first time that the Mooch has drawn parallels between Bitcoin and the e-commerce giant. As reported by U.Today, Scaramucci compared Bitcoin to Amazon in its early days to highlight its growth potential.     

SkyBridge takes a hit

As reported by U.Today, Scaramucci’s SkyBridge is currently losing investor money en masse due to its poor performance in 2022. One of the company’s funds was forced to suspend redemptions, which means that investors have been blocked from withdrawing their money.    



Learn more

Latest news

Why the AI stock rally isn’t another meme craze, according to a top investor

The latest stock rally in companies hawking new artificial intelligence (AI) tools could be somewhat justified, one top...

The 5 Layers That Make Up A Millionaire Mindset

Dylan Ogline is serial entrepreneur and author known as a pervader of work and lifestyle optimizations. He is...

XRP Price Analysis for February 8

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It...

Bernard Arnault company demands Kenz Beauty change its name

A small business owner has found herself embroiled in a legal battle with one of the world’s largest...

Carvana stock, heavily shorted, spikes as much as 27%

Carvana's (CVNA) stock was halted for volatility on Wednesday morning as it rose 27% before retreating.Shares of the...

Eight Tips For Increasing Engagement With Your Business’s Instagram

Though TikTok may be receiving a lot of press as of late, steadfast platforms like Instagram still reign...

Must read

Why the AI stock rally isn’t another meme craze, according to a top investor

The latest stock rally in companies hawking new...

The 5 Layers That Make Up A Millionaire Mindset

Dylan Ogline is serial entrepreneur and author known...

XRP Price Analysis for February 8

Disclaimer: The opinion expressed here is not investment...

You might also likeRELATED
Recommended to you