Anthony Scaramucci Explains Why He’s Sticking With Bitcoin And Its Intrinsic Value

In a recent interview, Sam Bankman-Fried’s former partner reiterated his belief that FTX is a crypto spin-off of founder Bernie Madoff.

Still, Scaramucci said he’s sticking with crypto and bitcoin and provided his company’s internal BTC price for the time being.

• The former White House communications director for the Trump administration entered the crypto space shortly after the COVID-19 pandemic and has since become a permanent member, taking every opportunity to praise and invest in bitcoin.
• Speaking To Bloomberg earlier this week, Scaramucci doubled down on his support for the asset despite the recent disaster in the region and his personal experience.
• He added that the current USD price of BTC of around $27,000 is actually an understatement as his company believes “internally bitcoin is worth around $40,000.”
• Scaramucci justified the higher price with the growing number of addresses as well as the adoption of the cryptocurrency, including miners earning more rewards than in the past year.
• He compared the adoption of BTC on the Internet in 1998 with more than 300 million wallets now, which is about 4% of the global population. Therefore, once this percentage doubles to 8, investors will see “explosive returns” from their bitcoin exposure.
• In addition to BTC, Scaramucci was involved in FTX last year as the now-defunct exchange acquired a 30% stake in Skybridge Capital.
• Given what happened with SBF just months after that deal, Scaramucci turned against his former partner, calling him the Bernie Madoff of crypto in the past. In the most recent interview, he went a step further:

“You’re referring to the Sam Bankman-Fried thing. It was almost as if John Meriwether and Bernie Madoff had a baby, it was Sam Bankman-Fried. You got everything in that story. You got scammed. , you have more leverage, you have more confidence. And that created a really big meltdown in the markets.

In a recent interview, Sam Bankman-Fried’s former partner reiterated his belief that FTX is a crypto spin-off of founder Bernie Madoff.

Still, Scaramucci said he’s sticking with crypto and bitcoin and provided his company’s internal BTC price for the time being.

• The former White House communications director for the Trump administration entered the crypto space shortly after the COVID-19 pandemic and has since become a permanent member, taking every opportunity to praise and invest in bitcoin.
• Speaking To Bloomberg earlier this week, Scaramucci doubled down on his support for the asset despite the recent disaster in the region and his personal experience.
• He added that the current USD price of BTC of around $27,000 is actually an understatement as his company believes “internally bitcoin is worth around $40,000.”
• Scaramucci justified the higher price with the growing number of addresses as well as the adoption of the cryptocurrency, including miners earning more rewards than in the past year.
• He compared the adoption of BTC on the Internet in 1998 with more than 300 million wallets now, which is about 4% of the global population. Therefore, once this percentage doubles to 8, investors will see “explosive returns” from their bitcoin exposure.
• In addition to BTC, Scaramucci was involved in FTX last year as the now-defunct exchange acquired a 30% stake in Skybridge Capital.
• Given what happened with SBF just months after that deal, Scaramucci turned against his former partner, calling him the Bernie Madoff of crypto in the past. In the most recent interview, he went a step further:

“You’re referring to the Sam Bankman-Fried thing. It was almost as if John Meriwether and Bernie Madoff had a baby, it was Sam Bankman-Fried. You got everything in that story. You got scammed. , you have more leverage, you have more confidence. And that created a really big meltdown in the markets.