Anthony Scaramucci, founder of SkyBridge Capital and the former White House communications director, has told people to “take a chill pill” amid Bitcoin’s price crash, per CNBC.
“Take a chill pill, stay long Bitcoin, other cryptocurrencies like Algorand and Ethereum, and I think you’re going to be very well-served long-term in those investments,” Scaramucci said.
His comments come amid a terrible start to 2022 for Bitcoin, which has fallen by 19% since the start of the year by today’s prices.
What’s more, the flagship cryptocurrency’s current price of $37,800 represents a rebound of sorts. In the last week, Bitcoin dropped to as low as $33,000.
“We’re getting ahead of ourselves. If it’s 2025, and there’s a billion Bitcoin wallets, let’s call it a currency. The dollar is still the dollar. To me, this is an emerging technology that will eventually evolve into a store of value as more and more people join the network,” Scaramucci added.
Scaramucci and Bitcoin
The SkyBridge founder has long been a big fan of Bitcoin.
In March last year, Scaramucci told Decrypt in an interview that he was “singularly focused on Bitcoin.”
“It’s 12 years old, it has been subjected to 8,300 different competitors to try to knock its block off, and yet it sits there at the top. That’s good enough for me,” he said.
At the time, Scaramucci was also bullish on the Securities and Exchange Commission (SEC) approving a Bitcoin ETF in the United States, so much so that SkyBridge filed for one in March too.
Last week, though, the SEC rejected yet another application for a spot market Bitcoin ETF from First Trust Advisors and SkyBridge.
Scaramucci’s stance on other cryptocurrencies has changed, too. During his interview with Decrypt last year, he was solely focused on Bitcoin.
“I’m not going towards Dogecoin, Ethereum, other cryptos or digital assets, I’m with the big dog.”
Yet, if his comments on CNBC—and SkyBridge’s private Ethereum fund plans—are anything to go by, he’s changed his tune.