In an interview with CNBC, Hedge fund investor Anthony Scaramucci argued that anyone who studies the original cryptocurrency bitcoin carefully and understands it will be convinced of its potential. “Do the homework on bitcoin, understand what it is,” the founder and managing partner of SkyBridge Capital told CNBC’s “Capital Connection” on Monday. He suggested reading the white paper by the creator of bitcoin, among other materials.
“If you have done your homework, you will invest in bitcoin.”
“Anybody that does the homework … ends up investing into it. Look at Ray Dalio, a bitcoin skeptic, now a bitcoin investor,” he said, adding that other big-name investors such as Paul Tudor Jones and Stanley Druckenmiller have also bought bitcoin. “These are brilliant guys [who] did the homework and drew a conclusion that they needed to own a piece of bitcoin,” he further noted. Scaramucci said he sees bitcoin as “digital gold” and has “over $1 billion” in bitcoin, which he started accumulating last year.
The cryptocurrency has seen wild swings this year.
Anthony Scaramucci’s firm announced a partnership last month that accelerates its move into the cryptocurrency world. “If you had one cent in bitcoin and 99 cents in cash over the last decade, you outperformed everything. Just think about that,” he said. Bitcoin hit an all-time high above $66,900 last week following the first U.S. bitcoin futures exchange-traded fund launch. The leading cryptocurrency has seen wild swings and is expected to continue to be volatile for a while. According to Coin Metrics, on Monday afternoon in Asia, bitcoin was up 2.6% at $62,696.00. At the time of writing, bitcoin is trading at just above $62,500.