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<ul class="summary-list"><li><keyword id="12087217" type="UNKNOWN" weightage="60" keywordseo="anthony-scaramucci" source="Orion">Anthony Scaramucci</keyword> has said he's not buying the dip in <keyword id="11893902" type="UNKNOWN" weightage="60" keywordseo="bitcoin" source="Orion">bitcoin</keyword> after its sharp fall to around $42,000.</li><li>The SkyBridge Capital CEO told CNBC that he sees more "sloppiness" and volatility ahead for the token.</li></ul>SkyBridge Capital CEO Anthony <keyword id="12616643" type="UNKNOWN" weightage="60" keywordseo="scaramucci" source="Orion">Scaramucci</keyword> has said he's not buying the dip in <a href="https://markets.businessinsider.com/currencies/btc-usd">bitcoin</a> after it tumbled to near $40,000, saying he expects more volatility and "sloppiness" ahead."I think what happens next is just more consolidation," Scaramucci <a href="https://www.cnbc.com/video/2022/01/13/youre-going-to-see-volatility-waves-in-bitcoin-but-long-term-holders-will-by-fine-says-anthony-scaramucci.html?&amp;qsearchterm=scaramucci">told CNBC</a> Thursday. Consolidation is when an asset trades in a narrow band, often at a lower level than recent highs.When asked whether he has been buying more bitcoin he said: "No, not really… [SkyBridge Capital is] not really adding any more or taking any away at this point.""There'll likely be some sloppiness near term," he said. "You're gonna see these volatility waves as people jump on, they get scared, [they] jump off."Bitcoin has fallen sharply over the last couple of weeks as <a href="https://markets.businessinsider.com/news/stocks/stock-markets-tech-bond-yields-interest-rates-federal-reserve-explained-2022-1">financial markets have been hit</a> by expectations that the Federal Reserve is set to raise interest rates <a href="https://markets.businessinsider.com/news/stocks/federal-reserve-interest-rate-outlook-balance-sheet-reduction-goldman-sachs-2022-1">numerous times</a> in 2022, bringing an end to the ultra-loose monetary policy which boosted assets over the previous two years.The world's biggest cryptocurrency traded at around $42,195 Friday, having fallen roughly 4% over the previous 24 hours. It was far below its November record high of close to $69,000.Read more: <a href="https://www.businessinsider.com/bitcoin-price-crypto-crash-analysis-alt-coin-to-buy-alternatives-2022-1?r=US&amp;IR=T">Bitcoin's hashrate is sitting close to all-time highs, but the price keeps falling. 8 experts break down what investors need to know about trading bitcoin in 2022</a>Scaramucci has <a href="https://markets.businessinsider.com/news/stocks/selloff-scaramucci-covid-variant-sell-off-buying-opportunity-stocks-crypto-2021-11">previously recommended</a> buying bitcoin when it has fallen in the past, suggesting he's now more worried about the outlook for the token.The Fed is likely to hike interest rates at least three times this year, according to analysts. So far, those expectations have been particularly bad for assets that are seen as very risky, notably, speculative tech stocks and cryptocurrencies.Investors have pivoted away from tech and <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> towards stocks that stand to do better as interest rates rise, inflation remains elevated and the economy grows, such as banks and energy companies.Scaramucci, who briefly served as President Donald Trump's White House communications chief, said he doesn't think bitcoin is a good hedge against inflation, saying it's "too immature."But he did say bitcoin can lower the cost of sending money around the world, saying this has been beneficial to people in El Salvador, where the digital asset is <a href="https://www.businessinsider.com/el-salvador-makes-bitcoin-legal-tender-2021-9#:~:text=El%20Salvador%20became%20the%20first,to%20make%20Bitcoin%20legal%20tender.">legal tender</a>.Scaramucci also said he thinks long-term holders of bitcoin are going to be fine, despite the recent volatility. "This is an early-adoption technology story," he said.

Anthony Scaramucci says he's not buying the dip in bitcoin as he expects more 'sloppiness' and volatility

<ul class="summary-list"><li><keyword id="12087217" type="UNKNOWN" weightage="60" keywordseo="anthony-scaramucci" source="Orion">Anthony Scaramucci</keyword> said <keyword id="11893902" type="UNKNOWN" weightage="60" keywordseo="bitcoin" source="Orion">bitcoin</keyword> reminds him of Facebook, Amazon and Google in their early days. </li><li>He said bitcoin and other cryptocurrencies have early adoptive technologies. </li></ul>Anthony Scaramucci, the founder and managing partner of SkyBridge Capital, said bitcoin's volatility is akin to big tech companies like <a href="https://markets.businessinsider.com/stocks/fb-stock">Facebook</a>, <a href="https://markets.businessinsider.com/stocks/googl-stock">Google</a>, and <a href="https://markets.businessinsider.com/stocks/amzn-stock">Amazon</a> in their early days. "They all started with a wave of oscillating volatility before they stabilized," Scaramucci said on <a href="https://www.cnbc.com/2021/10/25/those-who-do-their-homework-end-up-investing-in-bitcoin-scaramucci.html">CNBC's "Capital Connection" on Monday</a>. "Of course they all yielded tremendous growth and great returns, which I think bitcoin will do."Scaramucci, the former White House Communications director under former president Donald Trump, said he has over $1 billion in bitcoin currently. He called the cryptocurrency "digital gold" and said it would become a "gigantic asset class."And bitcoin skeptics who have done research on the asset class have changed their minds to invest. He noted billionaire investors like Ray Dalio, Paul Tudor Jones, and Stanley Druckenmiller have taken stakes in bitcoin. Even so, Scaramucci said, "it has to get more stable; it has to be a less volatile asset."Bitcoin hit $65,000 for the first time in April and then <a href="https://markets.businessinsider.com/news/currencies/bitcoin-price-today-broader-crypto-sell-off-drag-ether-dogecoin-2021-7">went on a downward spiral</a> as China signaled a crackdown on cryptocurrencies. Despite the steep losses, the digital asset has regained ground and then some. This month, Bitcoin has surged amid investor hype over US Securities and Exchange Commission approval for bitcoin futures exchange-traded funds. The first two bitcoin futures ETFs - one from ProShares and the other from Valkyrie - started trading last week, with another from <a href="https://markets.businessinsider.com/news/currencies/vaneck-launch-bitcoin-futures-etf-october-cryptocurrencies-xbtf-sec-markets-2021-10?utm_source=markets&amp;utm_medium=ingestgest">VanEck set to launch</a> this week.On Monday, the cryptocurrency traded at $63,233.82, a drop from its new all-time high around $67,000 last week.

Anthony Scaramucci compares bitcoin to early days of Facebook, Amazon and Google

<ul class="summary-list"><li><keyword id="117409" type="COMPANY" weightage="60" keywordseo="SkyBridge-Capital">SkyBridge Capital</keyword> CEO <keyword id="233060" type="PERSON" weightage="60" keywordseo="Anthony-Scaramucci">Anthony Scaramucci</keyword> said his firm is launching a private ether fund. </li><li>The <keyword id="2721952" type="PERSON" weightage="60" keywordseo="crypto">crypto</keyword> investor confirmed that his firm will also file for an <keyword id="2810876" type="PERSON" weightage="60" keywordseo="ethereum">ethereum</keyword> ETF on a podcast this week.</li><li><keyword id="233062" type="COMPANY" weightage="60" keywordseo="SkyBridge">SkyBridge</keyword> Capital has so far focused on bitcoin, having invested approximately $500 million in the cryptocurrency.</li></ul>SkyBridge Capital's CEO Anthony <keyword id="4132168" type="PERSON" weightage="60" keywordseo="scaramucci">Scaramucci</keyword> confirmed in a podcast published this week that his investment firm is launching a private ethereum fund on July 1st and will file for an ether exchange traded fund (ETF) as well, as they branch out from bitcoin. The investor spoke about SkyBridge Capital's crypto expansion plans in an episode of <a href="https://open.spotify.com/episode/6jjdHKFpCRMARrYnL3Mkpz">The Scoop</a> podcast published on Tuesday. "July 1st [...] we're launching a private ether fund, if you will, an ethereum fund. [...] We'll file for an ETF for ethereum, again it's anybody's guess when those things will be going." Scaramucci said. He did not offer any further details about the launch, or the listing. Ether, the native token of the ethereum network, is the second largest cryptocurrency by market value. It was last down around 1.2% at $2,117 in the 24 hours to 11:19 am E.T.. It's fallen by roughly 50% from record highs in early May, but is still up by almost 900% since this time last year, according to CoinGecko <a href="https://www.coingecko.com/en/coins/ethereum">data</a>. Scaramucci also said SkyBridge Capital filed for and announced a digital innovation ETF on Tuesday that contains publicly traded assets that support and are linked to ether, bitcoin and other coins. So far, SkyBridge Capital has been focused on bitcoin - the firm filed for a bitcoin ETF earlier this year and has investments of around $500 million worth of the coin. The Securities and Exchange Commission has not yet approved any bitcoin ETFs. "If you had asked me back in May of last year 'When are we going to have an ETF', I would've thought it would have been by now," Scaramucci, who believes bitcoin is digital gold, said on the podcast. Due to the status of the US as the leader of the global financial system, he thought the country would have been more receptive and responded faster and more positively to the rise of bitcoin and other defi elements, he said. Former White House official Scaramucci also said SkyBridge would continue to grow its existing bitcoin and crypto-related funds.

SkyBridge Capital's Anthony Scaramucci says he's launching an ethereum fund and will file for an ETF as well

<ul class="summary-list"><li><keyword id="233060" type="PERSON" weightage="60" keywordseo="Anthony-Scaramucci">Anthony Scaramucci</keyword>'s <keyword id="117409" type="COMPANY" weightage="60" keywordseo="SkyBridge-Capital">SkyBridge Capital</keyword> is the latest firm bidding for a <keyword id="2474430" type="PERSON" weightage="60" keywordseo="Bitcoin-ETF">bitcoin ETF</keyword>, a filing showed.</li><li>The new fund aims for the digital coin to make up 100% of its net assets.</li><li>SkyBridge's <keyword id="6357062" type="DEFINITION" weightage="60" keywordseo="ETF">ETF</keyword> will seek to list its shares on the New York Stock Exchange Arca.</li></ul>Anthony <keyword id="4132168" type="PERSON" weightage="60" keywordseo="scaramucci">Scaramucci</keyword>'s SkyBridge Capital has teamed up with investment firm First Trust Advisors to apply for regulatory approval for a <a href="https://markets.businessinsider.com/currencies/btc-usd">bitcoin</a> exchange-traded fund.According to the March 19 <a href="https://www.sec.gov/Archives/edgar/data/1852143/000144554621001542/skybridge_s1.htm">filing</a>, the objective of the First Trust SkyBridge Bitcoin ETF is to buy and sell bitcoin in a manner that the total value of the cryptocurrency is as close to 100% of the net assets "as is reasonably practicable to achieve." The ETF will seek to list its shares on the New York Stock Exchange Arca, which specializes in exchange-traded listings.A ticker symbol has not yet been assigned to the fund.Scaramucci's SkyBridge launched a <a href="https://markets.businessinsider.com/currencies/news/anthony-scaramucci-skybridge-capital-bitcoin-fund-launch-institutional-cryptocurrency-btc-2020-12-1029915328">bitcoin fund in December</a>, saying that he expected an "avalanche" of institutional investors to buy crypto in 2021. It only allows accredited investors to subscribe to it for a minimum investment of $50,000.Scaramucci launched SkyBridge in 2005 and returned as co-managing partner after Chinese conglomerate HNA dropped its bid to buy the firm. His stint as White House communications director lasted just 10 days under former President Donald Trump.A <a href="https://markets.businessinsider.com/currencies/news/bitcoin-etf-exchange-traded-fund-wisdomtree-us-sec-cryptocurrency-approval-2021-3-1030179702">growing number</a> of issuers within the industry are vying for US approval. WisdomTree Investments, NYDIG, <a href="https://markets.businessinsider.com/currencies/news/bitcoin-etf-btc-van-eck-cboe-files-for-approval-sec-2021-3-1030141735?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">VanEck</a>, and Valkyrie Digital Assets are the four other applicants waiting to launch their crypto ETFs.Crypto-tracking exchange-traded products already exist in <a href="https://www.bloomberg.com/professional/blog/europes-crypto-etps-show-theyre-for-real-with-1-billion-euros/">Europe</a> and strong demand in the region led to them exceeding 1 billion euros in assets in 2020, according to Bloomberg. <a href="https://news.bitcoin.com/3-bitcoin-etfs-approved-north-america/">Canada has already approved</a> three bitcoin ETFs that trade on the Toronto Stock Exchange. Latin America just approved the first of its own crypto ETFs and the listing is expected to take place in June.US regulators meanwhile have repeatedly pushed against the idea, arguing the crypto market is too volatile, lacks sufficient surveillance, and is easily manipulated.

Hedge fund manager Anthony Scaramucci's SkyBridge Capital is the latest to file for a bitcoin ETF

<ul><li><keyword id="233060" type="PERSON" weightage="60" keywordseo="Anthony-Scaramucci">Anthony Scaramucci</keyword> tweeted Friday that Elon Musk's bitcoin investments don't conflict with the Tesla CEO's mission to fight climate change. </li><li>Scaramucci said Musk wouldn't invest in a "dirty asset," and said that bitcoin mining can be powered by renewables. </li><li>His comments come amid concerns bitcoin mining is wasting energy and harming the climate. </li><li><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest=ingest?utm_source=markets&amp;utm_medium=ingest">Sign up here for our daily newsletter, 10 Things Before the Opening Bell</a>.</li></ul>Anthony Scaramucci defended Elon Musk's investments in bitcoin amid recent concerns that mining the coin wastes energy and is harmful to the environment. In a <a href="https://twitter.com/Scaramucci/status/1372932339467231237?s=20">tweet</a> Friday morning, Scaramucci said that "no living person has done more to protect the planet against climate change," than Musk and the idea that the Tesla CEO would invest in an asset that harmed the environment is "absurd." Scaramucci's SkyBridge Capital launched a bitcoin fund in December and has over a half a billion dollars invested in bitcoin. Musk's Tesla purchased $1.5 billion worth of bitcoin in February, which raised eyebrows from investors who see a disconnect between the green objectives of electric vehicles and the energy consumption of bitcoin.But Scaramucci told his 1 million twitter followers that the future of bitcoin mining is in renewable energy, and Musk sees that."Elon Musk sees future 1) renewables replace fossil fuels 2)<a href="https://twitter.com/hashtag/bitcoin?src=hashtag_click"> #bitcoin</a> demonetizes gold, RE, equities &amp; art + becomes dominant store of value," Scaramucci tweeted. While bitcoin miners argue that a <a href="https://markets.businessinsider.com/currencies/news/bitcoin-mining-energy-cost-environmental-sustainable-consumption-network-profitability-crypto-2021-3-1030194474">large portion of mining in the US and abroad is done via renewable energy</a> sources like hydropower, wind, and solar, there's no consensus data regarding the percentage of bitcoin mining that's powered by renewable energy. A recent <a href="https://www.jbs.cam.ac.uk/wp-content/uploads/2021/01/2021-ccaf-3rd-global-cryptoasset-benchmarking-study.pdf">survey by the Cambridge Centre for Alternative Finance</a> found that 76% of cryptoasset proof of work miners around the globe use renewable energies as part of their energy mix, but the share of renewables in miners' total energy consumption remains at 39%.

Anthony Scaramucci defends Elon Musk's bitcoin holdings amid recent energy-use concerns, says the Tesla CEO has done more than anyone to fight climate change

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