Bitcoin’s 2021 bull cycle was paused, not entirely stopped, and will resume, opined the founder of SkyBridge Capital – Anthony Scaramucci. In a new interview, the former White House Communications Director addressed the recent environmental issues and called Bitcoin a fully robust monetary network.

  • Yesterday’s market crash that saw bitcoin sliding by more than $10,000 in minutes sent shockwaves among investors and commentators rushing to offer their opinion on the matter.
  • The latest to do so is the founder of SkyBridge Capital – Anthony Scaramucci. Speaking to CNBC, the investor reaffirmed his bullish views on the primary cryptocurrency and asserted that the asset’s impressive performance in 2021 will continue.
  • Similarly to the most discussed market crash theories, Scaramucci touched upon the “tremendous amounts of leveraged traders.” As reported yesterday, the liquidations skyrocketed to over $8 billion on a 24-hour scale. Nevertheless, Scaramucci predicted that “long term, bitcoin is bouncing back.”
  • Additionally, he addressed some of the most recent FUD coming from different directions, starting with Elon Musk’s attacks on bitcoin due to environmental issues.
  • However, Scaramucci said that his organization’s research pointed out that a substantial amount of the energy BTC uses comes from renewable sources. He also noted that bitcoin’s “overall carbon emission is 0.13%.”
  • “So, if you tie the facts with what the claims are – they don’t fit.” – he explained.

  • In terms of China, where the world’s most populated nation reiterated its negative stance on BTC lately, Scaramucci said, “I accept the fact that China may never allow a cryptocurrency because they have a closed economic system.”
  • However, he noted that Facebook, Google, and other social platforms kept rising in popularity, despite their “censorship problems in China.”
  • As such, he concluded that these stories will not match bitcoin’s solid fundamentals in the long term and added:
  • “We just think that Bitcoin is a fully robust monetary network scaling to over 110 million users right now and possibly 1 billion users by 2025.”

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