VIDEO: Scaramucci Talks Bitcoin Crash, Musk's Twitter And Trump

MANHASSET, NY — Amid the volatile situation surrounding cryptocurrency following the arrest of FTX founder Sam Bankman-Fried on fraud charges, Anthony Scaramucci, a proponent of the bitcoin industry, spoke openly to Patch on Wednesday.

The founder of Skybridge Capital recognizes the space has crashed.

"I'm not sure how long it will last," Scaramucci, a native of Manhasset, said.

The fraud allegations are difficult for new investors, but Scaramucci is confident "It will heal, very similar to what happened in the dot com bubble in the year 2000."

He expects the bitcoin industry to recover within a year and become an alternate currency for customers.

As for billionaire Elon Musk's purchase of Twitter, which has been condemned for his business model that includes reinstating previously banned accounts, Scarmucci holds a minority opinion.

"He's a great experimenter. He's by nature an engineer," Scaramucci said. "I could be wrong, but I believe he's going to figure it out."

Scaramucci thinks Musk will curb hate speech and "clean out the bots."

"I get very heavily criticized for this, but I think Elon, by in large, is a person of goodwill," he said.

Scaramucci is also remembered for his brief stint as President Trump's communications director, although he has long since separated himself from Trump's views. Scaramucci supported President Biden in 2020.

However, Trump throwing his hat back in the ring complicates the political landscape for the next two years.

"There are two things that drive President Trump. One is money and the other is attention," Scaramucci said.

If Trump is able to get past his mounting legal issues and the Republican field, "He'll lose," Scaramucci declared. "I think Republicans are growing tired of him."

With an indictment against Trump as a possibility on several fronts, Scaramucci doesn't think Americans want to see a former president face the dubious distinction.

"There's so much there, I think it's hard to believe that he's not going to get indicted," Scaramucci said.

Watch the full interview below.