Scaramucci still rides with Saylor
Scaramucci reiterated his Bitcoin accumulation approach from Saylor, hinting at the prospect of a turnaround once the current turmoil dissipates.
“You are not a billionaire, but you should think about not being left behind,” the Bitcoin bull said. “I ride with Saylor.”
Scaramucci noted that the talk that “Michael Saylor is going to be liquidated” is gaining momentum, but that it is possible to gain an “edge” by buying at the lows.
Scaramucci’s advice for novices
Scaramucci also posted an excerpt from an interview dated April 15, in which he urged young investors to do their “homework” and avoid buying Bitcoin “indiscriminately” without conviction of its fundamental attributes.
He also advised a long-term approach to Bitcoin investing, recommending a minimum commitment of four to five years and discouraging trading.
Scaramucci is a long-time advocate of Bitcoin and said last week that it was “very consistent” with typical four-year cycles. He predicted the start of the year 2027.
MSTR woes spook the crypto market
Scaramucci’s advice comes amid a move toward Bitcoin and Strategy, a company widely seen as a Bitcoin proxy.
The top cryptocurrency plunged more than 18% in a month, while MSTR stock plunged 48% in the same time.
After peaking at $543 in November 2024, the stock today fell to $82, with its market capitalization dropping from $128 billion to $28 billion. According to Forbes, Saylor’s net worth dropped from over $7 billion to $3 billion.
Price Action: At the time of writing, BTC was trading at $60,064.87, down 0.16% over the past 24 hours, according to data from Benzinga Pro.
Strategy shares closed up 3.54% at $82.31 during Friday’s regular trading session. Benzinga’s Edge Stock Ranking indicates that MSTR has underperformed with a weaker price trend over short, medium and long term periods.
Image via Shutterstock/Al Teich