Renowned hedge fund manager Anthony Scaramucci has a bold prediction for Bitcoin (BTC): he believes that its market capitalization will eventually surpass the $16 trillion valuation of gold. In a recent interview with CNBC, the founder of SkyBridge Capital stated that Bitcoin is an unparalleled asset that has never been witnessed in the entirety of human history spanning 5,000 years.
Scaramucci acknowledges that Bitcoin still has a long way to go before it catches up to gold’s market capitalization of $16 trillion. However, he believes that this gap will gradually diminish as regulators grant their approval to BTC. He is convinced that the immutability and decentralization of Bitcoin make it an incredibly powerful asset. Additionally, he argues that Bitcoin fulfills all the criteria that have shaped the treatment of money in society throughout history, except for being susceptible to central bank manipulation. This, in his opinion, makes Bitcoin even more potent.
With a current market capitalization of $1.4 trillion, Scaramucci asserts that Bitcoin has the potential to trade at half the market capitalization of gold, eventually surpassing it. He disagrees with the notion that American owners in the exchange-traded fund (ETF) alone will not be sufficient to achieve this feat. Scaramucci believes that over time, regulatory acceptance will allow more people to include Bitcoin in their investment portfolios. He suggests that a mere 1% position in global portfolios would be enough to propel Bitcoin to that level.
As of now, Bitcoin is trading at $66,587.
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Disclaimer: The opinions expressed at The Daily Hodl are not to be considered as investment advice. Investors should conduct their own thorough research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. Please be aware that your transfers and trades are carried out at your own risk, and any losses incurred are solely your responsibility. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, nor is it an investment advisor. Please note that The Daily Hodl engages in affiliate marketing.
