Anthony Scaramucci, founder of SkyBridge Capital and longtime Bitcoin (CRYPTO: BTC) bull, once said that the biggest mistake investors can make is letting pride and ego guide their decisions -- a lesson he learned in politics and now applies to cryptocurrency.
Acting ';Dead' Emotionally On Bitcoin
In a video shared in November 2024, Scaramucci advised investors to strip emotion from their strategy.
"Take your pride and ego and your emotion out of your investing. Do the homework and if you think you're right, stay right and act like you're dead when it's related to Bitcoin," he said.
He recalled the time when Bitcoin was trading at $17,000 and they “were getting buried in the FTX debacle,” his team doubled down on the asset, not out of stubbornness but because they believed in its fundamentals.
"We kept buying more because we believed in it," Scaramucci noted.
FTX's Collapse, Scaramucci Lawsuit And The Rise Of Bitcoin ETFs
Last year, FTX sued Scaramucci and his hedge fund, alleging that founder Sam Bankman-Fried's $67 million investment in the firm during the 2022 crypto winter provided little benefit and was intended to improve his political and financial influence.
The lawsuit, one of 23 filed in Delaware bankruptcy court, came amid FTX’s attempt to recover funds for creditors after its collapse in November 2022.
In 2021, Scaramucci partnered with Bankman-Fried when FTX purchased his early investment LedgerX and acquired a 30% stake in SkyBridge Capital. Despite losing $10 million and facing a legal battle to reclaim his stake, Scaramucci was directly impacted by Bankman-Fried's later fraud conviction.
Later, Scaramucci weighed in on Bankman-Fried's sentencing, calling the 25-year prison term excessive, even though he was personally affected by FTX's downfall.
FTX's collapse into bankruptcy triggered a deep crypto winter and bear market, but the approval of spot Bitcoin and Ethereum ETFs in the U.S. sparked a resurgence by accelerating institutional adoption of digital assets.
In January 2024, the U.S. Securities and Exchange Commission gave the green light to the first-ever Bitcoin ETFs.
See Also: The Dollar Is Declining So Fast That It Will Bring Even More Inflation, Says Market Analyst: ';Position Yourself Accordingly’
Lessons From Trump And Politics
Scaramucci linked his advice to what he described as a misstep in politics: accepting a job in Donald Trump's White House against his wife's wishes.
"The biggest mistake I made in politics is I put my ego into my decision-making," he admitted, adding that pride and emotion led to disastrous choices.
His stint as Trump's communications director in 2017 lasted just 11 days, coining the phrase "a Scaramucci" to describe an 11-day period.
By 2019, their relationship soured, with Trump reportedly calling him a "deep stater" after Scaramucci defended the press in an op-ed.
SkyBridge Founder's Bitcoin Beliefs And Wealth
Scaramucci, who has authored books including "The Little Book of Bitcoin" with a foreword by Michael Saylor, in October 2024, said that 55% of his estimated $150 million to $200 million net worth is tied to Bitcoin.
Most of his wealth reportedly comes from personal investments and fees from SkyBridge, which managed $2.6 billion in assets at the end of 2024.
Moreover, in August 2025, he forecasted Bitcoin could reach $500,000 within five to six years, though he warned of a possible 40% correction along the way.
Price Action: At the time of writing this, Bitcoin traded around $119,000, meaning his $500,000 prediction implied a 319% gain.
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Photo courtesy: Al Teich / Shutterstock.com
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
