For most SkyBridge Capital clients, Dogecoin does not scale, but it could become a competitive store of value. This view was voiced by Anthony Scaramucci, founder of the asset-management firm, in an interview with Bloomberg.
“Perhaps this will be the silver to Bitcoin’s gold. It’s happening right now. Either it will work, or it won’t,” he said.
Despite Bitcoin’s market dominance having fallen below 40%, Scaramucci remains confident that the leading cryptocurrency retains its status as an apex predator among digital assets.
He acknowledged that it remains difficult to persuade investors to allocate capital to Bitcoin, but advises holding at least a little of the asset.
“As an investment adviser and someone who has managed money for over 30 years, I owe it to my clients to own 1%, 2% or 3%. I’m not telling them you should invest 100% of your net worth, but it’s prudent not to overlook it,” he said.
He believes that following Bitcoin, Ethereum is nearing “breakaway velocity” thanks to ongoing network upgrades. Yet he cautions that a project with superior smart-contract technology could overtake the second-largest cryptocurrency.
As reported, since 2019 they have been collaborating with Elon Musk.