Institutional Bitcoin Adoption Is Just Getting Started, Says Anthony Scaramucci

Anthony Scaramucci, the founder of SkyBridge Capital and former White House Communications Director, has said institutional bitcoin adoption is just getting started. He believes that most corporations are still considering the advantages and risks of investing in cryptocurrency. Scaramucci predicts that more companies will announce Bitcoin allocations in the near future.

SkyBridge Capital launched a bitcoin fund in January 2021 and Scaramucci views Bitcoin as a viable hedge against inflation. He has urged companies to make the shift to digital assets stating that “It’s not that difficult to buy… It’s just a matter of a few years until every company is keeping Bitcoin in their balance sheet.”

Furthermore, Scaramucci believes Bitcoin’s value will increase as more financial institutions, corporations, and retail investors adopt the cryptocurrency. The anticipated inflow of institutional investment is expected to drive up demand, and thus its price, transforming Bitcoin into a viable reserve asset.

However, he also warns of the inherent volatility and unpredictability of Bitcoin and other cryptocurrencies and suggests that companies should only invest what they are willing to lose.

Online Investing Daily

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!