Anthony Scaramucci believes the next decade will be “remarkably bullish” for bitcoin. At the Messari Mainnet conference in New York, he broke down his optimism. He compared bitcoin to gold, and said Wall Street will eventually usher in mainstream adoption. Loading Something is loading.
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SkyBridge Capital founder Anthony Scaramucci is still bullish on bitcoin even as it trades far below the highs reached in the last big bull run in 2021.
Speaking Wednesday at the Messari Mainnet conference in New York, the former White House communications chief said the worst of the bear market is over, bitcoin is better and more valuable than gold, and that Wall Street’s adoption of bitcoin will usher in mainstream popularity.
“If you got your bitcoin, I wouldn’t sell your bitcoin, you made it through winter,” Scaramucci said in a fireside chat titled, “Why I’m still bullish.”
He pointed to the crowd and specifically acknowledged the many young attendees in the audience.
“You [young people] will be mainstreaming bitcoin the way my generation mainstreamed the internet,” he said. “The next 10 to 20 years are remarkably bullish [for bitcoin].”
Scaramucci noted that headwinds still remain in the macro environment, such as higher interest rates, an antagonistic Securities and Exchange Commission chief, and negative sentiment around crypto adoption.
However, in his view, bitcoin offers more promise than gold, a commodity that has seen its purchasing power grow enormously over the last five decades despite the dollar being taken off the gold standard.
“As wealth is created in society, a portion of that wealth is going to get chipped off for digital assets, most likely bitcoin, Scaramucci said. “Bitcoin is better than gold.”
Finally, the SkyBridge Capital founder said once bitcoin ETFs become commonplace among institutional investors, that will bring massive, widespread adoption.
“Every single Wall Street firm is going to have a bitcoin ETF in their arsenal,” he said. “When Wall Street has something in their arsenal, they sell it to their clients…The market [for bitcoin] is going to widen.”