Anthony Scaramucci, founder of SkyBridge Capital, doesn’t think Bitcoin is a reliable store of value right now. He sees it as a technology still in its early stages.
Bitcoin’s Future Potential
While Scaramucci doesn’t see Bitcoin as a store of value today, he believes it could become one in the future, especially if it gains wider adoption with over a billion users. He also acknowledges the potential for Bitcoin to become a store of value in the long run.
Regulatory Challenges and Scams
Scaramucci points out that Bitcoin faces regulatory hurdles and that scams like the recent Grimace Coin incident can hurt the legitimacy of blockchain technology. He believes these issues need to be addressed to ensure the long-term success of the industry.
Wall Street’s “Selling Machine”
Scaramucci predicts that Wall Street firms will soon start pushing Bitcoin exchange-traded funds (ETFs) to their clients. He sees a huge potential for Bitcoin adoption once financial advisors and registered investment advisors start recommending it to their clients.
Bitcoin’s Current Price
At the time of writing, Bitcoin is trading at $64,274, slightly up in the last 24 hours.
Disclaimer: This information is for educational purposes only and should not be considered investment advice. Always do your own research before investing in any cryptocurrency.
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