Anthony Scaramucci, an American financier believes bitcoin could become a global reserve currency. He explained that bitcoin’s volatile nature is due to its early adoption.
BTC is a Monetary Network that works well
Interview with Natalie Brunell: Anthony Scaramucci, Founder and Managing Partners of SkyBridge Capital, shared his views on the merits and future prospects of bitcoin.
BTC’s volatility was a topic that the top executive raised. He said that it is normal for a relatively young asset class, and compared it with Amazon. SkyBridge Capital CEO reminded the audience that Amazon is one of the world’s leading companies. This suggests that primary cryptocurrency may be heading in that same direction.
“Bitcoin’s early adoption stage makes it volatile. Amazon experienced the same volatile curve 24 year ago. However, if you had invested $10,000 in Amazon’s IPO, you would now have $21,000,000
This isn’t Scaramucci’s first attempt at such a comparison. He compared bitcoin’s performance with Amazon’s stock in March and doubled down his belief that Bitcoin is better than gold.
Scaramucci also stated that bitcoin is more than a currency. Bitcoin is a financial network that works well and serves as a standard for monetary transactions. He believes that the asset’s greatest advantage is its decentralization.
Bitcoin is decentralized. Financial instruments work better when power is given to people, rather than the government.
Anthony Scaramucci. Source: CNBC
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Scaramucci acknowledged that the primary digital currency is a very successful financial instrument. However, he said his support for it was not limited to that. Scaramucci sees merit in the other digital assets, such as Ethereum.
He encouraged people to explore cryptocurrency. They should be able to understand the reasons for the cryptocurrency market, even if they have doubts.
“Understand the reasons you don’t want bitcoin. Don’t just say, “Oh, this is rats poison.” ”
Scaramucci recommended that the public not invest more than 5% in their initial investments in this field. In the event of price growth, they will still be able to make solid profits. However, the loss would not be significant if bitcoin’s price starts to fall (which he doubts).
He stated that bitcoin has reached a point where the US government is unable to ban it. Instead, officials could tax it or regulate it as they had been trying for the past year.
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