Anthony Scaramucci, the founder of SkyBridge Capital and a former top Trump administration staffer, characterized the current market as a "bloodbath" for both stocks and cryptocurrencies, likening it to the meltdown of the dot-com bubble in March of 2000.
However, in an interview with CNBC, Scaramucci advised investors to "stay disciplined" and look for long-term opportunities. As part of this, he recommended buying assets during the downdraft.
"People will look back on this debacle and say, 'I wish I had fresh cash to buy into that,'" he said. Scaramucci added that the market could "leg down some more" but that there were plenty of buying opportunities.
For crypto, the SkyBridge founder noted that further adoption of blockchain will drive long-term gains for survivors in the asset class. He reported that his fund was picking up Bitcoin (BTC-USD) and Ethereum (ETH-USD) "with any incremental cash" that came in the door.
Looking at the broader market, Scaramucci predicted that...
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