Benzinga - Anthony Scaramucci, the founder of SkyBridge Capital and former White House Communications Director, offered insights into the future of Bitcoin (CRYPTO: BTC). He also shared advice for investors.
What Happened: Scaramucci discussed Bitcoin’s global adoption during CNBC’s “Last Call” and its potential for future growth. He recalled that Tesla and Amazon experienced a lot of oscillations before they became successful. He added that Bitcoin is “still immature” and needs at least six to 12 months of stabilization.
“We have 5% adoption of Bitcoin globally,” he said, comparing Bitcoin’s current boom with the time when Web 1 emerged around 1999 and evolved over the decades.
“If you stay patient with $BTC and you have it appropriately sized in your portfolio, so you’re not looking at these oscillations, I think you’ll be well rewarded.”
"We have 5% adoption of #Bitcoin globally," says @Scaramucci. "If you stay patient with $BTC and you have it appropriately sized in your portfolio, so you're not looking at these oscillations, I think you'll be well rewarded." pic.twitter.com/elMmBUIISi— Last Call (@LastCallCNBC) March 6, 2024
See Also: Shiba Inu Lead Developer Kusama Echoes Dot Com Era Ahead Of Key Launch As SHIB Tops Charts: ‘Can Get There, But Only With Your Help’
Why It Matters: Scaramucci’s comments come at a time when Bitcoin is experiencing significant volatility. On Tuesday, the cryptocurrency soared to a new all-time high of $69,170.63 before experiencing a 10% drop, marking its steepest daily decline since November 2022. Despite this, many analysts remain bullish on Bitcoin, with some even predicting a potential rise to $140k in the coming weeks.
Meanwhile, the recent market movements have sparked a range of speculations, including concerns about flash crashes, market illiquidity, and profit-taking behaviors. Despite these uncertainties, the cryptocurrency community continues to closely monitor Bitcoin’s performance and future potential.
Read Next: ‘Dogecoin Killer’ Shiba Inu Soars 90% In A Single Day — But These Indicators Are Flashing ‘Sell’
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