SkyBridge Capital founder Anthony Scaramucci suggests investing in crypto now


Anthony Scaramucci, the founder of asset management firm Skybridge Capital, said on Tuesday that bitcoin’s price may be approaching its all-time low, so now may be the time to invest.

Speaking to a popular media outlet at the World Economic Forum’s annual conference in Davos, Scaramucci argued that long-term crypto investors should maintain a three- to five-year outlook and focus on day-to-day performance.

Skybridge Capital’s CEO said, “I encourage people to invest now,” he added, “We are closer to the bottom than any other top.”

SkyBridge Capital manages more than $2.2 billion, including more than $800 million in digital asset investments. In September last year, Sam Bankman-Fried’s FTX acquired a 30% stake in SkyBridge Capital.

Scaramucci said in the interview that he always considered SBF his friend. He said it is very clear that fraud has occurred and the court system should now review the case.

Although several data sources revealed that SkyBridge plans to buy back its interests from FTX by the middle of this year.

“We’re waiting for the approval of the bankruptcy people, the lawyers and the investment bankers to figure out exactly what we’re going to buy back, and when.”

Scaramucci said he received funding from FTX in exchange for a 30% stake in Skybridge Capital and invested $10 million in FTT tokens, which he later sold at a loss of $9.6 million.

Scaramucci said “we’re very optimistic,” he added, “I don’t think you can predict this market in the near term.”

The collapse of FTX pushed the crypto industry back years. The companies exposed to FTX were negatively impacted, with several bankruptcy filings shortly after FTX. While confidence in the industry must have taken a hit, the technology is as promising as ever. Anthony Sacaramucci is set to invest in a crypto company founded by Brett Harrison, the former president of FTX US.

According to Bloomberg, Anthony has agreed to invest in the new cryptocurrency company. The idea of ​​this new company was unveiled just three weeks after the FTX outage.

The unnamed crypto software company is expected to enable crypto traders to create strategies based on algorithms to access both decentralized and centralized markets. Harrison is aiming for a $10 million target with a $100 million valuation.

Brett Harrison, in a lengthy Twitter thread on Jan. 14, 2023, explained the operation at FTX US and Sam Bankman-Fried’s conduct with employees and subordinates. Anthony replied to a Tweet saying he was “proud” to be an investor in Harrison’s new company.

Steve Anderson
Latest posts from Steve Anderson (see everything)

Visit Source link!

Leave a Comment