Anthony Scaramucci: Bitcoin is the global reserve currency of the future
Bitcoin is a monetary standard that will one day become a global reserve currency. That was the opinion expressed by SkyBridge Capital head Anthony Scaramucci on the Career Stories podcast.
Scaramucci urged people to learn more about the crypto industry, even if they are sceptical about the digital asset market. He said it's important to understand "why you don't want to own digital gold".
Bitcoin is volatile because it is at an early stage of adoption. Amazon had the same volatile curve 24 years ago. But if you invested $10,000 in Amazon stock in an IPO, you would get $21 million today, Scaramucci explained.
He also cited bitcoin's decentralisation as one of its major advantages. According to the head of SkyBridge Capital, financial instruments work better in the hands of people rather than the government.
Scaramucci advised newcomers to the crypto industry to allocate up to 5% of their investment portfolio to digital assets. He attributed the recommendation to high returns if the market rises significantly and low losses if it collapses.
Recall that in March 2021 the head of SkyBridge Capital said that bitcoin is the future and, unlike gold, it is easier to store and move.
In May, Scaramucci noted the ability of meme-cryptocurrency Dogecoin to become digital silver.