Skybridge Capital founder Anthony Scaramucci advised Bitcoin investors not to sell the cryptocurrency, even if they are spooked by market volatility.
During a panel discussion at Bitcoin Investor Day, Anthony Scaramucci explained that Skybridge clients appreciate having Bitcoin in their investment portfolios. However, significant fluctuations in the BTC price and the instability of the crypto market make them worried, so now the most difficult thing for them is to do nothing and wait.
The founder of Skybridge Capital confirmed that the huge demand for Bitcoin is being fueled by institutional investors' interest in spot exchange-traded funds (ETFs) linked to BTC. According to Scaramucci, at first there was a rush for Bitcoin in retail trade. Now the situation has changed – institutions are pleased to know that they have access to a cryptocurrency ETF through which they too can gain access to Bitcoin. In addition, halving is expected in April, Scaramucci hinted at the growth of the BTC rate.
Despite Bitcoin hitting a new all-time high, Scaramucci believes the cryptocurrency can still be a bargain. In February, the businessman said that it was not too late to buy Bitcoin, as he expected a bullish rally in the crypto market in the foreseeable future.
Source: Cryptocurrency
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