Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Billionaire Hedge Fund Veteran Anthony Scaramucci Warns Against Short Selling Coinbase Stock (COIN) – Here’s Why

by Daily Hodl Staff
March 23, 2022
in Altcoins, Bitcoin, Trading

SkyBridge Capital founder Anthony Scaramucci says he disagrees with a fellow hedge fund manager’s skepticism toward America’s largest cryptocurrency marketplace.

In a new interview with CNBC Overtime, Scaramucci says that Kynikos Associates founder Jim Chanos is viewing Coinbase as if it were a brokerage stock, rather than a leader within an industry that still has the potential to grow significantly.

“There’s exponential growth that’s going to happen in the cryptocurrency markets. There’s the likelihood of a cash ETF [exchange-traded fund], if not at the end of this year, certainly by the end of next year.

There’s going to be a proliferation of the market. So even if the margins are coming down, there will just be explosive growth that Coinbase is going to capture.”

Scaramucci also notes a crucial distinction between Coinbase and the energy firm Enron, which Chanos shorted prior to its collapse in 2001.

“Nowhere have I read anywhere that he thinks there’s fraud at the company like he did in things like Enron that he potentially shorted.”

The billionaire businessman also believes that Chanos is analyzing the new field of decentralized finance with metrics more fitting for traditional finance.

“I would actually caution him to do that, and spend some more time with the company to see all the different things they’re working on and all the potential revenue avenues.”

When asked about Goldman Sachs becoming the first major bank to participate in an over-the-counter Bitcoin (BTC) trade with Galaxy Digital, Scaramucci says it indicates that the young asset class has passed an important test that bodes well for the future.

“This is apropos to Goldman’s culture. They like to sit back and wait and see other people potentially innovate.

But then when they come in, they usually come in at [a] very large size and scale. That’s telling me that they have demand for Bitcoin and crypto-related products.

That again speaks against the long-term, macro fundamentals that Jim is saying.”

Is Jim Chanos right to short Coinbase?

SkyBridge Capital's Anthony @Scaramucci gives us his 2 cents on the trade. $COIN pic.twitter.com/CLvFJ7Yaqv

— CNBCOvertime (@CNBCOvertime) March 21, 2022

Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Digital Store

Submit a Press Release

Industry Announcements

  • Aurigami Collects $12 Million War Chest To Grow Aurora-Based Lending Protocol
    August 2, 2022
  • Impel Adds Bitcoin to ISO 20022 Financial Messaging on XDC Network
    August 2, 2022
  • Serenity Shield and Digital Insights Announce Strategic Partnership
    August 2, 2022
  • Crypto Platform Phemex Becomes Partner of Université Paris Dauphine – PSL To Support Research on DeFi and Cryptocurrency
    August 1, 2022
  • Open Loot Announces Partnership With Hit Factor’s War Park
    August 1, 2022
  • Post Voyager Partners With Ozys, Announces Plans for Multi-Chain Expansion
    July 29, 2022
  • First Decentralized Data Warehouse Space and Time Raises $10 Million Seed Round Led by Framework Ventures
    July 28, 2022
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$23,104.19
$23,104.19
0.5%
Ethereum
$1,704.70
$1,704.70
0.73%
Cardano
$0.520276
$0.520276
0.29%
XRP
$0.374091
$0.374091
0.58%
Dogecoin
$0.069147
$0.069147
1.32%

Spotlight

  • Analyst Details Path Ahead for Chainlink, Ethereum and Cardano, Says Bitcoin in ‘Bargain’ Territory
    August 2, 2022
  • ApeCoin Deal With Fashion Giant Gucci Boosts Bored Ape Yacht Club Token APE
    August 4, 2022
  • Polygon (MATIC) Likely To Surge Ahead of Ethereum Merge Next Month, Says Coin Bureau Host
    August 7, 2022
  • Crypto Hedge Fund Veteran Mark Yusko Predicts Bitcoin ‘Spring’ Kicks Off BTC Move – Here’s His Timeline
    July 31, 2022
Finance Magnates London Summit Banner
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2022 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2022 The Daily Hodl