In a recent interview, the former partner of Sam Bankman-Fried doubled down on his belief that the FTX founder is the crypto spin-off of Bernie Madoff.
Nevertheless, Scaramucci added that he is sticking with crypto and bitcoin and provided his company’s intrinsic BTC value at the moment.
- The former White House Director of Communications for the Trump administration entered the cryptocurrency space shortly after the COVID-19 pandemic broke out and has become a permanent member since then, taking every opportunity to praise and invest in bitcoin.
- Speaking to Bloomberg earlier this week, Scaramucci doubled down on his support for the asset despite the recent calamity in the sector and his personal experience.
- He said BTC’s current USD value of around $27,000 is actually an understatement as his company believes “intrinsically bitcoin is worth about $40,000.”
- Scaramucci justified the higher price with the increasing adoption of the cryptocurrency, including the growing number of addresses, as well as miners earning more rewards compared to last year.
- He also compared BTC’s adoption, with over 300 million wallets as of now, to the Internet back in 1998, which is around 4% of the global population. As such, once this percentage doubles to 8, investors will see “explosive returns” from their bitcoin exposure.