REUTERS / Joshua Roberts
SkyBridge Capital founder Anthony Scaramucci argues that the victory of retailers against short sellers in the GameStop battle is positive for Bitcoin.
In an interview with Bloomberg, Scaramucci said the impact of small retail groups shows the power of decentralized financing – the concept that supports Bitcoin.
Money management, once considered limited to a concentrated group of highly paid advisers, is being democratized by smartphones and cheap online trading, Scaramucci said.
“The activity in GameStop is better proof that Bitcoin is going to work,” he said. “How are you going to beat the decentralized crowd? That’s more confirmation for me about decentralized finance.”
Reddit retailers have been furious about GameStop’s rapid price hike after their online posts encouraged others to join the trade, increasing the value of the video game retailer’s shares by about 600% in just ten trading days. This caused short sellers to lose a record $ 5 billion against the stock this year, according to data from S3 Partners.
Barron’s reported that a U.S. security regulator suggested that there was “systematically” something wrong with the options trading GameStop’s stock.
“This is the age of the micro-investor and you better take it seriously – otherwise you will be taken to the cleaners,” Scaramucci said.
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According to Skyberg, Scaramucci’s SkyBridge has an exposure to Bitcoin of about $ 385 million. The firm’s Bitcoin-focused fund, SkyBridge Bitcoin Fund, now has about $ 60 million, he said.
Bitcoin was the best asset in the world last year, with a 300% pull. Yields on the digital sign are more than ten times better than gold.
The impressive rally helped with growing concerns about inflation in a period of unprecedented monetary and fiscal experimentation, as well as a significant decline in the supply of new bitcoins.
The price of a single bitcoin at the beginning of the month is about $ 10,000 lower than its record high above $ 41,000. It traded at $ 31,031 on Wednesday from 9:20 GMT, or 4:20 ET, which was about 4% lower on the Coinbase exchange.
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