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Billion-Dollar Fund Manager Anthony Scaramucci Says Bitcoin Could Become Digital Gold

dailyhodl.com 21 November 2020 10:30, UTC
Reading time: ~2 m

Anthony Scaramucci, founder of global investment firm SkyBridge Capital and former White House communications director, says Bitcoin could easily become digital gold and a store-of-value asset.

In an interview on Kitco, Scaramucci says SkyBridge is doing its due diligence when it comes to crypto assets.

“After doing two years of research on the digital asset space, I wanted to have that flexibility and we’re a registered investment company so we filed with the SEC (Securities and Exchange Commission) just to indicate and to include in our prospectus that on a going-forward basis if we decide that we’re going to invest in those things, everybody, our investors and the SEC is properly notified.”

Scaramucci explains that though he hasn’t committed to any specific coin, he still thinks Bitcoin could become digital gold.

“It’s too volatile for you not to consider it a risk-asset or an asset that’s loaded with a lot of volatility. Could it become a store of value? Could it be ‘digital gold?’ Yes, I do think that. I think there is promise in the digital asset space. I’m a little bit old-fashioned so I’m not yet ready to commit to any specific coin or specific genre.”

The SkyBridge executive notes that after being skeptical of the legitimacy of cryptocurrency, he and his team decided that it was a justifiable investment, especially after considering the loose monetary policies held by central banks.

“The big question for me always was, ‘is this a tulip bulb?’ or ‘are we doing something that’s much ado about nothing?’ And I think I’ve come to the decision, as well as my investment management team, that no, there is something here, there’s some tangibility here and it may be a future store of value… Particularly in an age where fiat currency is being consistently manipulated in a coordinated way by the central banks.”

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