Anthony Scaramucci Predicts Bitcoin to Exceed Gold’s $16 Trillion Valuation
Veteran hedge fund manager Anthony Scaramucci predicts that Bitcoin’s (BTC) market cap will eventually surpass the $16 trillion valuation of gold.
In a recent CNBC interview, the SkyBridge Capital founder described Bitcoin as a superior asset never before witnessed in the last 5,000 years of human history.
Scaramucci acknowledges that Bitcoin still has ground to cover before catching up to gold’s $16 trillion market capitalization. However, he believes this gap will narrow over time as regulators approve BTC.
“What convinced me, moving past skepticism, is the understanding that Bitcoin is immutable and decentralized in a way that makes it very powerful. The network itself is scaling.
If you consider how we’ve treated money in our society over the last 5,000 years, Bitcoin checks all the boxes. The only box it doesn’t check is central bank manipulation, which I think makes it even more powerful.
READ MORE: Early Bitcoin Contributor Reveals Previously Undisclosed Emails with Satoshi Nakamoto
So, with a $1.4 trillion market cap, could Bitcoin trade to half the market capitalization of gold, where gold is valued at $16 trillion today? We believe it can. We actually think it will surpass the market capitalization of gold.
If you’re suggesting that American owners in the ETF (exchange-traded fund) won’t be enough to get it there, I disagree because over time, regulatory acceptance will allow people to include it in their portfolios. A 1% position in these global portfolios will take it there.”
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
