CEO of SkyBridge Capital Anthony Scaramucci, bitcoin He said he did not buy from the bottom after falling to $40,000 and expects more volatility and “sloppyness” ahead.
“I think what’s going to happen next is more consolidation,” Scaramucci told CNBC on Thursday. used the phrases. Consolidation is when an asset is trading in a narrow range, usually lower than recent highs.
More bitcoin When asked if he bought it, he replied, “No, not really… [SkyBridge Capital] does not add or subtract any more (BTC) at this point.” made the statement.
Financial markets have been shaken by expectations that the Federal Reserve is ready to raise interest rates multiple times in 2022. bitcoin has fallen sharply over the past few weeks. The world’s largest cryptocurrency is currently trading at $42,023, down nearly 4% over the past 24 hours. These levels are well below the November record of close to $69,000.
Scaramucci had previously made recommendations to buy when Bitcoin crashed, but he seems more concerned about the coin’s outlook now.
According to analysts, the Fed is expected to raise interest rates at least three times this year. So far, these prospects have been, in particular, speculative technology stocks and cryptocurrencies It has had bad consequences for assets that are seen as very risky, such as Investors turned to stocks that outperformed technology and crypto, such as banks and energy companies, as interest rates rose and inflation rose and the economy grew.
Scaramucci, who briefly served as former US President Donald Trump’s White House communications chief, said he didn’t think Bitcoin was a good hedge against inflation, saying it was “too immature”. But he said that Bitcoin can lower the cost of sending money worldwide, which is beneficial for people in El Salvador, where the digital asset is the national currency.
Finally, Scaramucci said that despite the volatility, the long-term bitcoin He added that he thought the owners would be fine. “This is an early adoption tech story,” he said.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.