Benzinga - Anthony Scaramucci, the founder and manager of SkyBridge Capital, is optimistic on the future of leading cryptocurrency, Bitcoin (CRYPTO: BTC).
What Happened: While Scaramucci doesn’t see Bitcoin becoming the universal standard for money in the future, he is optimistic about its potential as a store of value. He believes that Bitcoin has the potential to grow from its current $600 billion valuation to a substantial $15 trillion asset in the future.
Scaramucci added that he himself owns a “lot of Bitcoin” for the same reason. He was speaking on the latest episode of OPTO – Invest in Innovation.
See Also: EXCLUSIVE: Scaramucci On What Warren Buffett Gets Wrong About Bitcoin, Doesn’t Understand ‘The Whole History Of Money’
The financial system, however, is “broken,” he opined. Though fixable, it would take 15 or 20 years for the fix, and would require long-term planning, he added.
Why It Matters: Scaramucci is a big believer in the future of digital assets. He recently told Benzinga that Bitcoin could serve as a hedge against higher inflation and a national debt that has to be monetized.
Scaramucci said, unlike other assets, you can't inflate the value of Bitcoin given its fixed supply. Bitcoin might be the only asset on the planet with higher demand that can't have the supply increased, the investor said.
"[If] you have higher demand for gold, we'll build more mines. Bitcoin has a finite supply," he said during a recent appearance on "The Raz Report."
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