I’m absolutely delighted to be welcoming today’s guest back into the London Real hot seat. He’s a man who has a wealth of experience and knowledge from his years working across a broad spectrum of industries, from finance to publishing and, of course, a now well-documented stint in the White House.
It is of course none other than investment fund manager, Bitcoin enthusiast and author Anthony Scaramucci. His book From Wall Street to the White House and Back tells the story of his career. The ‘Mooch’, as friends and former colleagues often refer to him, spent many years front and centre on Wall Street in the dog-eat-dog world of financial investment and trading, serving his time at Goldman Sachs before rising to Vice President in the bank’s Private Wealth Management Division.
Anthony founded the hugely successful Oscar Capital Management before selling up and starting again and establishing what has been his legacy move, SkyBridge Capital. SkyBridge is an investment adviser and global alternative investment manager that invests in hedge funds, private equity, real estate and now cryptocurrency, which is why I’m always pleased to hear his thoughts and expertise.
We’re in the midst of some seriously challenging times and as the discontent continues to grow it’s hard for investors to know what to do next. The world has changed drastically and as the paradigm shift continues many are finding it very hard to maintain their wealth let alone create it.
And Anthony himself has experienced his fair share, having long ago seen the opportunity in Bitcoin and even created a Bitcoin Fund at the end of 2020. In fact, Skybridge Capital has “about $500 million” in Bitcoin as of June 2021 and given his assertion, based on the work his team have conducted, that the 125 million global users of Bitcoin will rise to more than 1 billion by 2025, he maintains his investment will still reap some serious rewards.
“Everybody is a long-term investor until they have short-term losses.”
As Anthony points out it remains very early days for the industry and just like the dot-com bubble, crypto will continue to experience highs and lows, with bad actors coming and going. On that note, Skybridge had sold a 30% stake in the company to FTX head honcho and current crypto outcast, Sam Bankman-Fried.
To say the fallout has been devastating would be a gross understatement. The industry is reeling in the aftermath of the FTX collapse and nobody has probably suffered a more direct impact than Anthony.
“This was classic embezzlement, your money was going into a supposed account at FTX and then he swept that money into his personal account. He showed you fictitious statements that said your money was ok. I think it’s totally reprehensible.”
Skybridge Capital is Anthony’s life’s work, having poured his heart and soul into the company, but as anyone with his level of experience knows you have to take the rough with the smooth.
I agree, which is why I want all of you to understand this new space that has opened up, and believe me it is going to play a major part in all of our lives. We are experiencing a huge shift and living through a digital revolution where decentralised finance is slowly starting to shape the way we live.
Now is the time to act, to investigate, to read and learn about the industry and maybe help shape a better future for you and your family. Anthony Scaramucci believes this is a necessary juncture, and common for any nascent industry. He believes that with more collaboration the industry will grow.
“I still believe that the future is coming. There were people that had horses and carriages that thought the horseless carriage was a fad.”
There’s so much to talk about and I haven’t even started on Trump, Musk, Bitcoin and much much more. Make sure you tune in for this one, as always it’s going to be a biggie.
