The American financial expert stated that just as Amazon survived the collapse of technology companies due to the dot-com bubble in 2000, some crypto money projects could survive after the bear season in the crypto money market.
Anthony Scaramucci, Founder of SkyBridge Capital, advised investors to stay disciplined due to the ongoing bear season in the cryptocurrency market. Comparing the process to the dot-com bubble of 2000, Scaramucci stated that some cryptocurrencies will survive the bear season in the market, just as Amazon did 20 years ago
As the bloodbath effect in the cryptocurrency market increased, Bitcoin also fell to price levels not seen in years. With the most recent crash, Bitcoin fell to price levels not recorded since the last quarter of 2020, while Ethereum fell below its all-time high in 2018. Famous investor Anthony Scaramucci advised investors to “remain disciplined” in a recent interview with CNBC.
Known for his pro-Bitcoin stance against critics like Warren Buffett, Scaramucci compared the current bear market to the dot-com bubble of 2020. However, witnessing the rise in Bitcoin’s market dominance during the last crash, Scaramucci stated that cryptocurrencies like Bitcoin can survive the crash just like Amazon.
He cited Terra’s collapse along with the destabilization of the algorithmically stable cryptocurrency UST and the Celsius Network’s move to abruptly halt withdrawals, swaps and transfers between accounts as one of the catalysts for the deepening Bitcoin collapse. In this extreme situation, he advised people to stay long and avoid pressur
Despite her positive stance towards the leading cryptocurrency, Scaramucci has in the past warned investors to scale their BTC investments appropriately.
Keep Buying BTC and ETH
Asked if staying disciplined “means they keep accumulating Bitcoin,” Bitcoin bull Scaramucci replied “yes”. Stating that his fund continues to add Bitcoin and Ethereum to its portfolio, Scaramucci predicted that people would wish they had bought it at these prices in the future.
Scaramucci, who owns a partial private stake in FTX, also praised the popular cryptocurrency exchange FTX’s performance as a profitable company that has rapidly increased its market share.