Anthony Scaramucci, a renowned hedge fund manager, believes Bitcoin’s market capitalization will eventually exceed the $16 trillion valuation of gold.
Scaramucci’s Rationale
In a recent interview with CNBC, the founder of SkyBridge Capital stated that Bitcoin is an exceptional asset that has no historical precedent in human history. He emphasized Bitcoin’s immutability, decentralization, and scalability as key factors contributing to its superiority.
Scaramucci acknowledged that Bitcoin still has some ground to cover to match gold’s market cap but expressed confidence that the gap will narrow as regulators embrace the cryptocurrency.
Regulatory Acceptance
Scaramucci believes that regulatory approval will play a crucial role in driving Bitcoin’s adoption and increasing its market value. He suggests that a 1% allocation of Bitcoin in global portfolios would be sufficient to surpass gold’s market capitalization.
Bitcoin’s Current Value
At the time of writing, Bitcoin is trading at approximately $66,587.
