American financier and former White House Director of Communications Anthony Scaramucci said in an interview with CNBC that Bitcoin is ‘the apex predator’ amongst other investments and cryptocurrencies such as Ethereum in this day and age of digitization.
‘[Bitcoin is] the apex predator in the space. I tell my clients whether you like it or not, the world is moving into digitization,’ said Anthony.
‘I predicted Ethereum has good fundamentals and will grow, but I’m in an institutionalist sort of business. I think like an institutionalist, and I’ve got to get my clients thinking about cryptocurrency and digital assets. So, as a first step, I’m focused on Bitcoin and we only have a Bitcoin fund,’ he added.
Scaramucci’s global investment firm Skybridge Capital currently holds $600 million worth of Bitcoin in their Bitcoin Fund LP. Moreover, the firm applied for the approval of a Bitcoin ETF to the SEC two weeks ago.
Additionally, Scaramucci said he recommends his clients to allocate between one or three percent of their portfolio towards cryptocurrency to get them started in investing in digital assets.
‘When you think about our children… they’re going to be very comfortable transacting in Ethereum or Bitcoin, and I’ve got to get my clients ready for that. If they have a 1, 2, or 3% position they’re going to look at us as fiduciaries and think they were very well served’, he added.
In a conference in the Reuters Digital Asset Week held last March, Scaramucci also said that Bitcoin doesn’t have to become a widely adopted asset to succeed because it can function as a store of value for people who are looking forward to investing.
‘For Bitcoin to be successful, it doesn’t have to become the global currency. It could just be a store of value, and then you end up transferring your Bitcoin into the various currencies that you want to transact in’.
However, Scaramucci also admitted that he is not blinded by the promise of digital assets and that he is aware of the risks that come with investing in cryptocurrencies.
‘I don’t believe that Jesus and Moses got together and had a baby, and the baby was Bitcoin – that’s not me. I see the risks of Bitcoin, it is a volatile asset. I’m a Bitcoin investor. I was once a Bitcoin skeptic’.
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