The American financier Anthony Scaramucci expresses faith that bitcoin is a monetary standard. So, he believes it has potential to become a global reserve currency.
He explains that the digital assets is in its early days of adoption and so no need to worry about its volatile state.
Bitcoin As An Effective Monetary System
The Founder and Managing Partner of SkyBridge Capital, Anthony Scaramucci publicly expressed his mind on bitcoin’s future in an interview with Natalie Brunell
Futhermore, he maintained that bitcoin’s volatile nature is normal for a relatively new asset class, especially when compared to Amazon.
While, he highlighted the-commerce firm now leads in its industry. Additionally, saying that the primary cryptocurrency is also heading towards that same route:
“Bitcoin is volatile because it is in its early adoption stage. Amazon had the same volatile curve 24 years ago. But if you have put $10,000 on Amazon at its IPO, you would have $21 million today.”
Also In March, Anthony Scaramucci also made comparison between bitcoin and Amazon’s stock performance. Then, He conclusively explains that bitcoin is better than gold.
He described bitcoin to be not just a currency but an effective financial network and a monetary standard.
For instance, He explains that the asset’s most significant advantage is its decentralization:
“Bitcoin is decentralized. And financial instruments work better when you put power in peoples’ hands rather than when the government is in charge.”
Get Your Own Convictions
Conclusively, he also shows support for the digital asset – Ethereum. He went on to ask people to get more knowledge about the crypto space.
Anthony Scaramucci explains
“Understand why you don’t want to own bitcoin, don’t just automatically say: ‘Oh, this is rat poison.’”
He advised the public to make an allocation of not more than 5% of their wealth into the system.
Lastly, Bitcoin is now in a state where the US government can no longer place any ban on it but can only tax or regulate it.
picture credit; encyclopedia