SkyBridge Capital founder Anthony Scaramucci believes President Biden will favor the crypto industry, even if it goes against the wishes of SEC Chair Gary Gensler.
Biden’s Softening Stance
Scaramucci suggests that Biden is becoming more open to Bitcoin and cryptocurrencies after the approval of spot Ethereum ETFs. He argues that Biden may lose votes if he follows the “capricious whims” of anti-crypto figures like Gensler.
SEC’s Accounting Rule
Scaramucci criticized Staff Accounting Bulletin (SAB) 121, which requires companies to classify digital assets as liabilities on their balance sheets.
Scaramucci’s Bitcoin Predictions
The hedge fund veteran predicts that Bitcoin could reach $700,000 in the next decade and a half, citing its low adoption rate and technical properties.
