Some of its most ardent advocates, like the founder and managing partner of investment company SkyBridge Capital, are not pessimistic about the future of cryptocurrencies despite the market’s severe setback.
Indeed, Anthony Scaramucci, who is also known as a former counsellor to Donald Trump, told CNBC’s Squawk Box anchor Andrew Ross Sorkin in a June 13 interview that he believes the cryptocurrency market would rebound as long as its players maintain discipline.
As someone who is experiencing his eighth crypto market drop, he has maintained an optimistic outlook, stating:
“I am pleased by the fact that Bitcoin now accounts for more than 50 percent of the total crypto market cap, which is another indication of a flight to quality… I would advise folks to maintain discipline.”
Histories repeating themselves
Scaramucci emphasised that the issue with Celsius is exerting pressure on the market, similar to how Terra (LUNA) exerted pressure on the market about six weeks ago, and he advised people to maintain discipline.
When asked if “remaining disciplined meant purchasing,” the founder of SkyBridge Capital responded: “We have purchased additional Bitcoin and Ethereum, and we have a private interest in FTX, which is doing really well… Yes, many will look back on this fiasco and wish they had new capital to invest in it.
In addition, Scaramucci cautioned investors to be ready for anything: “Could it possibly weigh more? Certainly. We all know that anything you believe cannot occur on Wall Street almost certainly does, so we are prepared for every situation.”
According to Finbold, ‘The Mooch’ has been known to attack some of the most vocal anti-crypto billionaires, such as Berkshire Hathaway’s CEO Warren Buffett and vice chairman Charlie Munger, JPMorgan’s Jamie Dimon, and Blackrock’s Larry Fink, for not “doing their research” on crypto.