SkyBridge Capital founder and co-managing partner Anthony Scaramucci says altcoins like Ethereum (ETH), Cardano (ADA), and Algorand (ALGO) will likely continue to grow because of their clear utility.
In a new interview on CNBC, the investment veteran says that despite the sharp correction that crypto markets experienced on the same day that El Salvador officially adopted BTC as legal tender, he still sees an overall bullish macro picture for the digital asset space.
“It felt like it was peaking as a result of the El Salvador news, there was a lot of leverage in the system, and a lot of leverage blew out… over the last 48 hours. Having said that, the demand and the fundamentals for things like Bitcoin continue to improve. Every day you hear new stories about more wallets, more activity, more potentiality of an ETF (exchange-traded fund) – at least a Bitcoin futures ETF – and so I’m still quite optimistic for year-end…”