Scaramucci Against Crypto Critics Warren Buffett, Jamie Dimon, And Larry Fink

Anthony Scaramucci, the founder of the billion-dollar hedge fund SkyBridge Capital, has taken a shot at major financial investors like Warren Buffett, Jamie Dimon, and Larry Fink, stating that their criticisms of cryptocurrency are unfounded because they have not carried out research on the burgeoning industry.

Buffet, Dimon, and Fink Bash Crypto Without Research

While speaking at the Australian Financial Review’s 2022 Cryptocurrency Summit, Scaramucci asked investors to ignore critics like Buffet, Fink, and Dimon, who he believes have blindly bashed Bitcoin and cryptocurrencies. According to Scaramucci:

“These sorts of traditional finance people have made a decision not to do the homework, or maybe they’ve done the homework, and they have decided that it’s just too big of a change for them at this stage in their career.”

Buffet, the CEO of Berkshire Hathaway and popularly called the “Oracle of Omaha,” has maintained a long-standing aversion toward cryptocurrency. Back in 2018, the business magnate said that Bitcoin is “probably rat poison squared.”

Dimon, who heads the Wall Street giant JPMorgan Chase, is also not a Bitcoin fan, even though the investment bank has offered its clients exposure to BTC and crypto. In 2017, he called Bitcoin a “fraud.” More recently, in October 2021, he reiterated his dislike for the digital currency, calling it worthless.

Scaramucci also reacted to crypto criticisms by Charlie Munger, vice chairman of Berkshire Hathaway and Buffett’s long-time partner and right-hand man, saying:

“There has been [the] pandemic, global wars, and genocides, and apparently bitcoin is the worst thing for civilisation. Bitcoin doesn’t care.”

On the other hand, Scaramucci applauded trading investment giants like Paul Tudor-Jones, Steve Cohen, Stan Druckenmiller, and Dan Loeb, who have adopted cryptocurrency “because they had done sufficient research” into the market.

Bitcoin’s Supply Limit Means Some Millionaires Will Miss Out

Scaramucci further urged investors to get into Bitcoin, adding that the total supply limit is capped at 21 million, with over 18.9 million currently in circulation. According to Scaramucci, there is not enough Bitcoin in existence for each millionaire globally to own one full Bitcoin.

SkyBridge Capital filed with the U.S. Securities and Exchange Commission (SEC) back in December 2020 to launch a fund, called SkyBridge Bitcoin Fund L.P., which will expose more institutional investors to the leading cryptocurrency. The company has also invested millions of dollars in Bitcoin.

The CEO is also a well-known Bitcoin proponent who has made different Bitcoin predictions in the past. Back in February 2021, Scaramucci said the price of the digital asset will reach $100,000 per coin before the end of 2021.

While Bitcoin has not hit the predicted six-digit figure, the asset reached an all-time high of nearly $67,000. At the time of this writing, Bitcoin is trading around $43,000.

In March 2022, during an interview with Magnifi, Scaramucci said that although there would be periods of volatility, Bitcoin’s value could still reach $100,000 this year and could climb as high as $500,000 in the long run.

Regardless of what traditional financial titans think or what they do, Scaramucci advocates for investment in Bitcoin now. The question is, will investors heed his advice, or will they continue to rely on the old ways of trading and investing?

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Cryptocurrency continues to expand its reach into the world. Read about how over 170 service stations in South Australia will soon accept payment in crypto.

Another recent example is the addition of a memecoin to Bitcoin of America ATMs. Click here to find out which one made the leap into the mainstream.

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