Anthony Scaramucci, founder of SkyBridge, stated in a Bloomberg TV interview that Bitcoin's intrinsic value is around $40,000 and that it is currently trading at a discount of almost 50%.
He also mentioned that SkyBridge has not changed its portfolio and will stick with Bitcoin despite the collapse of FTX. Scaramucci believes that the current downturn in the crypto market is temporary and that once market sentiment becomes positive, the value of most cryptocurrencies will correct to appropriate levels.
He also stated that current Bitcoin adoption is similar to where the internet was in 1998 and that explosive returns in Bitcoin will occur once global absorption reaches 8%.
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