American financier, Anthony Scaramucci has doubled down on his Bitcoin support saying that the cryptocurrency performance so far in 2021 is still impressive. He said the coin is still 10% up, despite its recent nosedive
Despite the recent downward turn crypto prices have taken, Scaramucci expressed optimism about the crypto coin and said it will soon blast again. He made these reassurances to Bitcoin enthusiasts in a CNBC interview on Tuesday.
Following a run to an all-time high above $63,000 in April, the price of bitcoin has swiftly tumbled in a matter of weeks. Despite this, it has gained more than 10% since the start of 2021.
The SkyBridge Capital’s CEO made an interesting reference as he compared the digital asset to Amazon. The tech giant stock in the late 90’s was highly volatile and way cheaper than what it is now, but investing in it back then would bring massive gains today.
”If you went back to Amazon’s IPO back in 1997, if you held that stock, $10,000 of that stock on its IPO is now worth $24 million. But you would have subjected yourself when the stock dipped at least 50% as it was scaling.”
Scaramucci opined that investors who keep holding bitcoin would ultimately benefit from it in the near future. According to him, BTC’s value will appreciate significantly.
Scaramucci forever a Bitcoin loyalist
The SkyBridge Capital’s CEO several times has remained loyal to the Bitcoin cause and stayed positive on the flagship cryptocurrency.
During the sharp price decline in May when most experts predicted negative scenarios for the asset, Scaramucci did not change his stance. He stated that Bitcoin’s 2021 bull cycle has not stopped completely and will resume later in the year.
Similarly while addressing fear, uncertainty, and doubt on environmental concerns emanating from Bitcoin mining, he said, his organization’s research pointed out that a substantial amount of the energy BTC uses comes from renewable sources. He also noted that Bitcoin’s “overall carbon emission is 0.13%.
Similarly, Troy Gayeski – Co-Chief Investment Officer at SkyBridge Capital – doubled down on the organization’s support for Bitcoin. He surmised that the company believes in gold’s potential but would choose Bitcoin as an investment option over the precious metal.