Despite falling 50% from April highs, Anthony Scaramucci continues to believe that the bitcoin price cycle continues.
The bitcoin price cycle has come to a halt, has not stopped completely and will continue, said SkyBridge Capital founder Anthony Scaramucci. In a new interview, the former White House Communications Director spoke about recent environmental issues and described bitcoin as a fully robust monetary network.
Yesterday’s collapse of the bitcoin price that fell more than $10.000 in a few minutes shocked investors and commentators who rushed to say “their short and long” on the subject.
One of them is the founder of SkyBridge Capital Anthony Scaramucci, who speaking to Squawk Box, confirmed his optimistic views on the iconic cryptocurrency and said that its impressive performance in 2021 will continue.
Scaramucci referred to the huge leverage in the market, predicting that in the long run, bitcoin will recover.
He also referred to the messages of fear, uncertainty and doubt that run through the cryptocurrency space coming from every direction, triggered by the movements of Elon Musk.
At this point, commenting on what is being said about the bitcoin carbon footprint, Scaramucci said that his research showed that a significant amount of energy used by Bitcoin comes from renewable sources. He also noted that the total carbon emissions of bitcoin are 0.13%.
“So, if you connect the facts with what the allegations describe – they do not match.”
Referring to China, where the negative attitude towards bitcoin was reaffirmed recently, Scaramucci said: “I accept the fact that China can never allow cryptocurrencies because it has a closed economic system.”
However, he noted that Facebook, Google and other social platforms continued to grow in popularity, despite the “problems of censorship in China”.
He concluded that these stories will not be in line with the fundamental principles of bitcoin in the long run and added: “We just believe that bitcoin is a fully robust monetary network with more than 110 million users right now and possibly 1 billion users by 2025”.