Yesterday, November 26, both the stock markets and the cryptocurrency industry showed declines. But SkyBridge Capital founder Anthony Scaramucci believes this is a chance to buy cryptocurrencies.
The bitcoin rate fell below $ 54,000, and at the time of publication, the first cryptocurrency is not showing attempts at a large-scale recovery. However, Anthony Scaramucci said in an interview with CNBC that nothing has fundamentally changed. “Black Friday”, according to the investor, gave an excellent chance to buy cryptocurrencies at a reduced price.
“If you, like us, rely on fundamentals, then now is the time to buy. There are practically no risks. Bitcoin and other cryptocurrencies have always been volatile, which takes people out of the game and reduces the amount of margin positions. I think this is the groundwork for an excellent first quarter of next year, “- said Scaramucci.
The founder of Sky Bridge Capital also noted that the reaction of the cryptocurrency market seemed very healthy to him. He called it “healing bloodletting” during a crisis. Interestingly, Scaramucci does not consider Bitcoin to be a defensive asset to hedge inflation risks:
“I think in the long run, he can be such an asset. Especially if you have billions of dollars in inventory. But now bitcoin is more like Amazon stock in 2000, it is very volatile. ”
Anthony Scaramucci said earlier that even at $ 60,000, bitcoin looks attractive. He believes that in the medium term, the rate of the first cryptocurrency could reach $ 500,000.