Anthony Scaramucci, SkyBridge Capital founder and former ally of ex-President Donald Trump, joined Benzinga's PreMarket Prep Monday morning to discuss the current market environment, the crypto sector and more.
The prominent investor noted on the show that Bitcoin makes up more than 30% of SkyBridge's assets. He even predicted that Bitcoin will eventually hit $150,000 a coin as more people around the world.
Scaramucci is more bullish on Bitcoin at $60,000 than he was when it was at $30,000 last year due to the recent ETF adoptions from Blackrock Inc (NYSE:BLK) and other large financial firms.
"You only have 4.8% of the globe in Bitcoin," Scaramucci said. "That's akin to Web 1 in 1999, and I would just tell you to look at the Web 1 volatility of stocks like Amazon, eBay, etcetera back in 1999. As things are adapting and scale, and I predict Bitcoin will scale, you will see the situation where Bitcoin has a billion users, the value of that network will be exponentially larger and Bitcoin will be at $150,000."
Scaramucci, Trump's communications director from July 21 to July 31, 2017, founded SkyBridge Capital in 2005 — just a few years before the Great Recession. Scaramucci noted that his previous experiences through crashes in the late 1990s helped him navigate his firm through the Great Recession.
Scaramucci also partnered with now-defunct crypto platform FTX and its founder Sam Bankman-Fried but was able to stay afloat during the collapse. Now Scaramucci is navigating the post-FTX crypto world and set to receive more Bitcoin from the Mt. Gox bankruptcy proceedings.
He also has a new book 'From Wall Street To The White House And Back" set to be released next Tuesday.
In the book, Scaramucci discusses his experience working with Trump and the lessons he learned on Wall Street. Click here to watch Scaramucci's full interview on Pre-Market Prep, or stream the interview below:
Image: Anthony Scaramucci. Photo by World Economic Forum