Only one in ten institutional investors has entered the crypto space, and headlines about explosive interest in the new asset class among institutions do not reflect reality. SkyBridge Capital chief Anthony Scaramucci said this in an interview with Bloomberg.
The executive drew a parallel with the dot-com boom of the 1990s, when similar hype appeared in the media.
“Institutions haven’t arrived. Everyone who talks about it isn’t entirely honest. Or they see something I’m missing.”, said Scaramucci.
During the interview, the SkyBridge Capital CEO predicted that Coinbase or another industry player would be acquired by one of the major Wall Street firms. He cited a desire to accelerate the financial sector’s transformation sparked by the growth of the DeFi sector.
Earlier, Scaramucci stated that Bitcoin is a monetary standard that will one day become a global reserve currency.
In September, SkyBridge Capital raised $100 million for a fund focused on the Algorand blockchain, and filed with the SEC to launch a ETF on stocks of crypto companies.
In July, SkyBridge Capital launched a private fund focused on investing in Ethereum.
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