Those who do their homework end up investing in bitcoin: Scaramucci

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Hedge fund investor Anthony Scaramucci says anyone who carefully studies bitcoin and understands cryptocurrency will be convinced of its potential.

“Do your homework on bitcoin, understand what it is,” SkyBridge Capital founder and managing partner told CNBC’s “Capital Connection” Monday. He suggested reading the bitcoin creator’s white paper, among other documents.

“Anyone who does their homework… ends up investing in it. Look at Ray Dalio, a bitcoin skeptic now a bitcoin investor,” he said, adding that other high profile investors such as Paul Tudor Jones and Stanley Druckenmiller also bought bitcoins. .

“They are brilliant guys [who] did their homework and concluded that they must own a piece of bitcoin, ”he said.

Trump’s SPAC

Separately, Scaramucci said the special-purpose acquisition company linked to former President Donald Trump is “obviously a store of memes” at the moment.

Shares of Digital World Acquisition Corp., which plans to merge with Trump Media & Technology Group, soared last week.

“I would be very careful to be long on this title and I would also be very careful to run out of this title,” said Scaramucci. “There might be a hatch in this stock anytime, where, the next thing you know, the bees are on to something else.”

He said the hype was “based on nothing but the fact that it was” Trump’s SPAC.

Last week, Scaramucci told CNBC he hopes PSPC is doing well.

“I want this thing to go up another 10 times. The more it goes, the less likely it is that Donald Trump will run for president in 2024, so I support this SPAC,” he said. Scaramucci served as White House communications director for just 10 days in July 2017 under the Trump administration.

– CNBC’s Jade Scipioni, Ryan Browne, Hannah Miao, Yun Li and Kevin Stankiewicz contributed to this report.

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