Anthony Scaramucci: Play dead and don't sell Bitcoin

Anthony Scaramucci's Guide: Hold onto Bitcoin Through Market Turbulence

Skybridge Capital's Anthony Scaramucci has a clear message for Bitcoin investors amidst market volatility: maintain your holdings. At Bitcoin Investor Day, Scaramucci shared insights on the client sentiment towards Bitcoin within Skybridge's portfolios. Despite the unease caused by price swings and the unpredictable nature of the cryptocurrency market, Scaramucci urges a strategy of inaction akin to the surprisingly successful approach of "dead" investors at Charles Schwab. This philosophy, he hopes, will cultivate patience among clients.

Skybridge, under Scaramucci's guidance, has observed a significant shift in Bitcoin investment dynamics. Initially driven by retail frenzy, the demand for Bitcoin is now increasingly bolstered by institutional investors' interest in spot exchange-traded funds (ETFs) linked to BTC. This transition, according to Scaramucci, underscores the growing acceptance and desire for regulated cryptocurrency exposure among institutional entities.

Furthermore, with a Bitcoin halving event on the horizon in April, Scaramucci anticipates potential growth in BTC's value. Despite Bitcoin reaching unprecedented highs, he remains convinced that the cryptocurrency presents a worthwhile investment opportunity. His optimism extends to the broader crypto market, anticipating a bullish trend and reinforcing his advice against selling Bitcoin in the face of volatility.