Anthony Scaramucci, the founder of SkyBridge Capital, predicts that more pension funds will include Bitcoin in their investment portfolios. In an interview on CNBC Squawk Box, Scaramucci states that other pension funds are likely to follow the State of Wisconsin’s decision to invest in Bitcoin as a means of funding retirement benefits.
Recent filings from the U.S. Securities and Exchange Commission reveal that The State of Wisconsin Investment Board has invested approximately $163 million in BlackRock’s iShares Bitcoin Trust and Grayscale’s Bitcoin Trust. Scaramucci believes that this institutional adoption of Bitcoin is currently taking place and expects other pension funds to make similar announcements. He points out that Bitcoin now has regulatory approval, which was a significant hurdle for many large-scale institutions.
Scaramucci also believes that Bitcoin is still in the early stages of adoption, acknowledging that being an early adopter can come with challenges but also significant rewards. Currently, Bitcoin is trading at $67,142, showing a 2.5% increase in the last 24 hours.
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