Anthony Scaramucci: Bitcoin (BTC) can become the global reserve currency
SkyBridge’s Anthony Scaramucci believes Bitcoin (BTC) to be a monetary standard with the potential to become a global reserve currency. He explains its volatile nature by the fact that BTC is still at an early stage of adoption.
BTC as an effective monetary network
In an interview with American journalist Natalie Brunell, founder and CEO of SkyBridge Capital Anthony Scaramucci has shared his stance on Bitcoin’s merits and its future development.
Anthony has touched on the topic of Bitcoin’s volatility, comparing it to Amazon. SkyBridge CEO mentioned that the e-commerce giant is now one of the leading companies, and Bitcoin is moving in the same direction. “Bitcoin is volatile because it is in its early adoption stage. Amazon had the same volatile curve 24 years ago. But if you have put $10,000 on Amazon at its IPO, you would have $21 million today,” Scaramucci stressed.
He added that Bitcoin isn’t just a currency – it’s also an effective financial network and a monetary standard. Scaramucci also cited Bitcoin’s decentralised nature as one of its best features.
Other digital assets
In addition to praising BTC, Scaramucci expressed support for other digital assets, including the second-largest crypto by market cap – Ethereum (ETH).
Anthony has encouraged people to pay more attention to the crypto industry. Speaking of the initial investment in the field, Scaramucci advised potential traders to invest no more than 5% of their total savings in cryptocurrency. That way, an increase in prices will bring people a solid profit. On the other hand, if BTC’s value starts to decline, the losses won’t be significant.
Antony Scaramucci believes Bitcoin has moved past the stage where the US government had a right to ban it. Instead, the authorities should develop a regulatory framework to regulate the sector.
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Trends are temporary. The blockchain isn’t a trend; it’s the future. I want to help as many people as possible understand it in a simple, clear and interesting way.
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.