Bitcoin is a monetary standard that will one day become a global reserve currency. This view was expressed by SkyBridge Capital chief Anthony Scaramucci in the Career Stories podcast.
Always a pleasure talking with #Bitcoin bull and investment savant @Scaramucci, one of the best storytellers I’ve ever interviewed.
Hear his family’s humble immigrant story, how he hustled for his career, why he turned against Trump, & his belief in BTC:https://t.co/cVEv3pp8pP
— Natalie Brunell (@natbrunell) September 16, 2021
Scaramucci urged people to learn more about the crypto industry, even if they are skeptical about the digital asset markets. He said it is important to understand ‘why you wouldn’t want to own digital gold’.
“Bitcoin is volatile because it is in an early stage of adoption. Amazon had the same volatile trajectory 24 years ago. But if you had invested $10 000 in Amazon shares at the IPO, you would today have $21 million,” Scaramucci explained.
He also highlighted Bitcoin’s decentralization as one of its main advantages. According to the head of SkyBridge Capital, financial instruments work better in the hands of people than in the hands of governments.
Scaramucci advised crypto-industry newcomers to allocate up to 5% of their investment portfolio to digital assets. He said the recommendation is justified by the potential for high returns if the market grows significantly and by the lower losses in a market downturn.
Earlier in March 2021, the head of SkyBridge Capital stated that Bitcoin has a future, and unlike gold it is easier to store and move.
In May, Scaramucci noted Dogecoin’s ability to become digital silver.
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