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BTC · 2w

Bitcoin Is Better Than Gold, SkyBridge Capital's Anthony Scaramucci Joins the Club

Anthony Scaramucci, the founder of the global investment firm SkyBridge Capital that recently launched a Bitcoin fund, envisions massive gains for the cryptocurrency. Furthermore, the former investment banker at Goldman Sachs said that BTC is “better at being gold than gold is.”

Bitcoin Is The Better Gold

Apart from founding his own investment company and working in the financial sector, Scaramucci also served as the White House Director of Communications briefly in 2017.

More recently, he has openly praised bitcoin as his company decided to launch a designated BTC fund. Upon the announcement, Scaramucci said SkyBridge Capital had invested $25 million in the new product.

In a new interview with Bloomberg, he seemed even more bullish on bitcoin, especially when comparing it to gold.

“Bitcoin is better at being gold than gold is at being gold. It’s easier to store, it’s harder to steal, it’s more portable, and so, therefore, it’s become the ledger or the storage of the future in terms of the storage of value.”

Scaramucci doubled-down on his previous narrative that the bitcoin adoption curve is still in the “early innings.” He believes that the entrance of several institutions and hedge fund legends such as Paul Tudor Jones III and Stan Druckenmiller is only the start as more will follow.

He also predicted that world governments, including the US, will finally set up clear regulations that will accelerate mass adoption.

Anthony Scaramucci. Source: CNBC Foreseeing A Massive Price Surge

Since Scaramucci believes that bitcoin will “effectively going to become digital gold,” he compared the market capitalization of both assets. Some estimations show that gold’s market cap hovers around $10 trillion, while BTC’s is about $650 billion.

SkyBridge Capital’s founder said that if the cryptocurrency reaches “just the half” of the yellow metal market cap, it will rise to about $5 trillion. With nearly 18,6 million bitcoins ...

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