In a current interview, the previous associate of Sam Bankman-Fried doubled down on his perception that the FTX founder is the crypto spin-off of Bernie Madoff.
Nevertheless, Scaramucci added that he’s sticking with crypto and bitcoin and supplied his firm’s intrinsic BTC worth in the mean time.
The former White House Director of Communications for the Trump administration entered the cryptocurrency area shortly after the COVID-19 pandemic broke out and has turn out to be a everlasting member since then, taking each alternative to reward and put money into bitcoin.
Speaking to Bloomberg earlier this week, Scaramucci doubled down on his help for the asset regardless of the current 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 worth about $40,000.”
Scaramucci justified the upper value 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 Internet 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.
Aside from BTC, Scaramucci was concerned with FTX final yr because the now-defunct change acquired a 30% stake in SkyBridge Capital.
Given every little thing that occurred with SBF just some months after that deal, Scaramucci has turned towards his former associate, calling him the Bernie Madoff of crypto previously. In the newest interview, he even went a step additional:
“You’re mentioning the Sam Bankman-Fried thing. It was almost like if John Meriwether and Bernie Madoff had a baby, it was Sam Bankman-Fried. You got everything in that story. You got fraud, you got over-leverage, you’ve got excess confidence. And it caused a really big depression in the markets.”
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