Despite the significant drop in the cryptocurrency market, SkyBridge Capital CEO Anthony Scaramucci noted that bitcoin outperformed the stocks of many technology companies.
Anthony Scaramucci invests in a variety of assets, including cryptocurrencies. And, according to him, bitcoin is still not the worst asset to invest in. For example, since the beginning of the year, the share price of the largest retailer Amazon has fallen by 50%. Shares of popular electric car maker Tesla lost 69%. Bitcoin, at the same time, fell only 64%.
The CEO of SkyBridge Capital emphasized that the cryptocurrency market was shaken by really big failures. For example, the Terra ecosystem collapsed, and towards the end of the year, news outlets around the world were full of headlines about the bankruptcy of the large FTX cryptocurrency exchange. And against the backdrop of these events, the decline of bitcoin by only 64% confirms its value as an investment asset.
At the time of publication, the first cryptocurrency is trading at $16,600. The growth rate was 0.2% per day. In August, Scaramucci said bitcoin adoption was still not enough to call it an inflation hedge asset.
Source: Bits
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