SkyBridge's Anthony Scaramucci: Fundamentals for cryptocurrencies continue to improve

Anthony Scaramucci, founder of SkyBridge Capital and a former top Trump administration staffer, said Wednesday that the "demand and the fundamentals" for cryptocurrencies like Bitcoin (BTC-USD) continue to improve despite a near-term dip earlier this week. Speaking to CNBC, Scaramucci described himself as "quite optimistic" that Bitcoin will continue to rise in value by the end of the year, thanks to signs of wider acceptance of the crypto. "Every day, you hear new stories about more [Bitcoin] wallets, more activity, more potentiality of an ETF," he said. Discussing the recent drop in crypto prices, which came Tuesday as El Salvador officially made Bitcoin legal tender in the country, Scaramucci argued that as a result of the selling spree, "a lot of leverage blew out of the system." The SkyBridge founder added that other cryptos like Ethereum (ETH-USD) and Cardano (ADA-USD) will also see increased adoption over time. "[They] will continue