Anthony Scaramucci, founder of investment firm SkyBridge Capital, believes that bitcoin and Ethereum (ETH) are worth too little and that the true price of the coins exceeds the current figure.
According to our metrics based on breadth of customer base, size of wallets, number of methods of use, growth of cryptocurrencies, the adequate market value of bitcoin now reaches around $40,000. Ethereum’s fair price is about $2,800,” Scaramucci said.
Anthony also made a prediction about the change in the bitcoin rate. In his opinion, there may be a downtrend in the market, but the value of the coin will not fall below the previous bottom at $17,500.
Scaramucci also noted that SkyBridge Capital only buys BTC and ETH for two reasons. First, these cryptocurrencies are undervalued. Second, technical indicators suggest that bitcoin and Ethereum markets are in oversold territory.
The top manager said that SkyBridge Capital has invested about 18 percent of its capital in digital assets and cryptocurrency companies.