Anthony Scaramucci Rode His BTC Boat Through Choppy Waters Of 2022 Bear Market: 'Didn't Sell Any Bitcoin There, And I Was Rewarded'

Anthony Scaramucci, founder and managing partner of SkyBridge Capital, reflected on his unwavering faith in Bitcoin BTC/USD on Tuesday despite being mocked for it in the past.

What Happened: During an interview with journalist and author Katty Kay, Scaramucci talked about a bobblehead made by his staff, depicting him sinking in a Bitcoin boat. 

This was a reference to a picture featured in a New York Post’s three-year-old piece about Scaramucci’s Bitcoin conviction despite pressures faced by his flagship SkyBridge fund. The cartoon showed Scaramucci sinking his Bitcoin-laden boat, labeled “S.S. Mooch,” in water.

See Also: Bitcoin, Ethereum, XRP, Dogecoin Obliterate $1.42 Billion In Liquidations, Plummet Up To 16%

That was the time when Bitcoin traded around the $20,000 mark, a sharp drawdown from the all-time highs hit in the 2021 bull market. The SkyBridge fund, which had more than 20% in cryptocurrency-related investments, was hit by surging withdrawals.

“Just a reminder, I didn’t sell any Bitcoin there, and I was rewarded,” Scaramucci said, signaling how Bitcoin has rebounded and even crossed $100,000 since then.

Why It Matters:  Scaramucci’s conviction in Bitcoin has been well-known. Last month, he described Bitcoin as a ‘digital store of value’ and a strategic asset that the U.S. should hold in its reserves. He praised the Trump administration’s efforts to establish a Bitcoin reserve, arguing that it positions the cryptocurrency as a critical component of the nation’s financial future. 

Scaramucci revealed that over 50% of his net wealth is tied up in Bitcoin and that he would not sell his Bitcoin but rather target altcoins such as Solana SOL/USD in the long run.

Price Action:  At the time of writing, Bitcoin was exchanging hands at $76,928.88, down 3.09% in the last 24 hours, according to data from Benzinga Pro. Year-to-date, the cryptocurrency has dropped 17.62%.

Image via Shutterstock

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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.