Anthony Scaramucci Explains Why He Is Sticking With Bitcoin and What Is Its Intrinsic Worth

In a latest interview, the previous companion of Sam Bankman-Fried doubled down on his perception that the FTX founder is the crypto spin-off of Bernie Madoff.

However, Scaramucci added that he’s sticking with crypto and bitcoin and offered his firm’s intrinsic BTC worth for the time being.

• The previous White Home Director of Communications for the Trump administration entered the cryptocurrency house shortly after the COVID-19 pandemic broke out and has develop into a everlasting member since then, taking each alternative to reward and put money into bitcoin.
• Talking to Bloomberg earlier this week, Scaramucci doubled down on his assist for the asset regardless of the latest calamity within the sector and his private expertise.
• He stated BTC’s present USD worth of round $27,000 is definitely an understatement as his firm believes “intrinsically bitcoin is price about $40,000.”
• Scaramucci justified the upper worth with the growing adoption of the cryptocurrency, together with the rising variety of addresses, in addition to miners incomes extra rewards in comparison with final yr.
• He additionally in contrast BTC’s adoption, with over 300 million wallets as of now, to the Web again in 1998, which is round 4% of the worldwide inhabitants. As such, as soon as this share doubles to eight, traders will see “explosive returns” from their bitcoin publicity.
• Apart from BTC, Scaramucci was concerned with FTX final yr because the now-defunct trade acquired a 30% stake in SkyBridge Capital.
• Given all the things that occurred with SBF just some months after that deal, Scaramucci has turned towards his former companion, calling him the Bernie Madoff of crypto up to now. In the newest interview, he even went a step additional:

“You’re mentioning the Sam Bankman-Fried factor. It was virtually like if John Meriwether and Bernie Madoff had a child, it was Sam Bankman-Fried. You bought all the things in that story. You bought fraud, you bought over-leverage, you’ve obtained extra confidence. And it triggered a extremely large melancholy within the markets.”