Anthony Scaramucci, the founder of Skybridge Capital, a big investment firm, doesn’t think Bitcoin is a good store of value right now. He’s known for being a Bitcoin supporter, but he’s also honest about its shortcomings.
Why Bitcoin Isn’t a Store of Value
Scaramucci thinks the current regulatory mess in the crypto world is holding Bitcoin back. He points out that gold has been doing much better than Bitcoin over the past two years, and that’s a sign that gold is a more reliable store of value.
He says Bitcoin could become a store of value if it gets more widely used, with over a billion people using it. But for now, it’s still too early to call it a reliable way to hold onto your money.
Bitcoin’s Potential
Scaramucci believes Bitcoin is a powerful technology with a lot of potential. He thinks it could revolutionize payments and make transactions much cheaper and faster. He even thinks Bitcoin could help the US economy by reducing the cost of verifying transactions.
Bitcoin’s Price: $100,000?
Scaramucci predicts Bitcoin could reach $100,000, but he says it’s taking longer than expected because of all the regulatory issues, market uncertainty, and past scams.
He also thinks Spot Bitcoin ETFs are having a big impact on Bitcoin’s price. He says they’re the most successful ETF launch ever, and they helped push Bitcoin to its all-time high earlier this year.
So, while Scaramucci is bullish on Bitcoin’s long-term potential, he’s cautious about its current status as a store of value. He thinks it needs more time and better regulation to reach its full potential.
